Pushpay leads stock market higher

The S&P/NZX 50 Index rose 95.40 points, or 0.8 percent, to 11,704.62. Within the index, 16 stocks rose, 25 fell and nine were unchanged. Turnover was $220.2 million.

Wall Street stocks halted a three-week losing streak on Tuesday, led by technology giant Amazon, after investment strategy company Bernstein upgraded the stock to ‘outperform’ saying it will continue to benefit from new customers accrued during the pandemic.

The S&P 500 rose 1.1 percent and the Nasdaq Composite Index rose 1.7 percent, providing an encouraging lead to Asian markets.

Local tech company Pushpay Holdings led the NZX 50 higher, rising 5.8 percent to $8.20, spurred on by another analyst's view.