The NZX 50 climbed 168 points, or 1.3%, to close at 13,070 on Tuesday, reopening after a two-day Easter break and extending gains from the previous session, with most sectors advancing. Healthcare led the rally, followed by materials, communication services, and industrials. The benchmark reached its highest level since March 18, supported by expectations that the RBNZ will keep the cash rate unchanged at 2.25% at Wednesday’s meeting, amid persistent inflation concerns and the strain of surging energy costs on the broader economy.
Upside was limited, however, by a decline in US futures, as investors remained cautious ahead of President Donald Trump’s deadline for Iran to reopen the Strait of Hormuz, after Tehran rejected a ceasefire proposal.
Notable gainers included Skellerup Holdings (+6.2%), Mainfreight (+4.0%), Fisher & Paykel Healthcare (+2.9%), ANZ Group (+2.3%), Ebos Group (+1.7%), and Freightways Group (+1.6%).
