MARKET CLOSE: NZ shares rise as investors rejig portfolios; Gentrack soars

Tue, 31 Mar 2020

New Zealand shares rose as institutional investors increased their exposure to equities at the end of the March quarter, and as central bank support raises the prospect of a rally following the coronavirus crash. Gentrack soared after it affirmed earnings guidance. The S&P/NZX50 advanced 135.56 points, or 1.4 percent, to 9,796.75. Within the index, 40 stocks rose, eight fell and two were unchanged. Turnover was $256 million. Fund managers have had to buy equities to maintain their investment portfolio allocations as stocks slumped in val...

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