NZ sharemarket up 1% after yesterday's 1.5% fall

The market bounces back. (Image: Getty)

Thu, 17 Oct 2024

Another day, another turnaround. The New Zealand sharemarket posted a 1% gain after recovering from a bout of hectic selling the day before.The S&P/NZX 50 Index gained in strength as the day wore on and closed at 12,768.54, up 127.22 points or 1.01% following the previous 1.55% fall. A total of 36.68 million shares worth $129.04m changed hands.'Rumour mill'Jeremy Sullivan, investment adviser with Hamilton Hindin Greene, said the falling inflation rate to 2.2% probably spooked some offshore investors worried about the cross...

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