Market continues to be full of New Year cheer

The S&P/NZX 50 index rose 63.8 points, or 0.6%, to 11,651.29. Across the main board, 85 stocks rose and 42 fell. Turnover was $90.5 million.

Devon Funds head of retail Greg Smith told BusinessDesk that unlike the North Island – which had been experiencing a huge amount of rain in the last week – New Zealand’s market wasn’t seeing the same “soggy start” to the year.

NZ’s market jumped into the green for a second day, helped by heavyweight stocks having a good day and pushing the index in a positive direction.

Amongst the heavyweights were healthcare manufacturer Fisher & Paykel Healthcare – up 1.9% to $23.50 – and aged care provider Ryman Healthcare which rose 1.3% to $5.50. Freight company Mainfreight also edged up 1.8% to $67.