NZ sharemarket down, but up 8.2% for the year

Investment director Mark Lister says, with a bit of luck, the market could crack a double-digit return this year. (Image: Getty)

Graham Skellern

Thu, 10 Oct 2024

The New Zealand sharemarket couldn’t hold onto its big gains from the day before, but it is still heading for its best annual performance in four years.After surging 1.75% on the Official Cash Rate (OCR) cut, the S&P/NZX 50 Index gained another 0.4% before dipping late in the day to close at 12,754.58, down 21.55 points or 0.17%.The index reached an intraday high of 12,833.94 points and has risen nearly 8.2% so far this year.There were 73.07 million share transactions worth $95.24m, highlighted by the trade of 50.5m KMD Brands shares...

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