MARKET CLOSE: NZ shares on track for record year; index reweighting drives big volume

Fri, 20 Dec 2019

The S&P/NZX 50 Index remains on track for a record year, nudging higher in heavy trading as investors made way for the latest index reweightings ahead of the holiday period. The benchmark index increased 1.68 points, or 0.02 percent, to 11,482.29, and is up about 30 percent so far this year. Within the index, 28 stocks rose, 14 fell, and eight were unchanged. Turnover was $230 million, with 15 stocks trading on volumes of more than a million shares. NZX and FTSE index reweightings came into effect today, meaning large institutional invest...

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