MARKET CLOSE: Profit taking pulls shares down

Mon, 21 Sep 2020

Profit taking pushed New Zealand’s benchmark stock index more than 500 points below its record as investors found few reasons to buy with a global recession in progress. The S&P/NZX 50 Index fell 94.42 points, or 0.8 percent, to 11,539.10. Within the index, 34 stocks fell, 11 rose and five were unchanged. Turnover was $171.2 million.The market started the week with a step down as investors found little distraction from the general economic malaise most of the world has found itself in after the pandemic. Today’...

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