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MARKET CLOSE: Profit taking pulls shares down

Dan Brunskill
Mon, 21 Sep 2020

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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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