NZX trading volume up but value down
There were more trades on the New Zealand stock exchange in January compared to the same month last year but the value of shares traded dropped.
NZX monthly metrics for January showed the number of trades for the month was 98,903, up 42.8 per cent from January 2013, but the total value traded dropped 8 per cent to $2.1 billion.
Total trades of less than $50,000 increased by 46.2 per cent last month, to 93,382.
There were 13 capital-raising events in January, compared to 52 capital-raisings in December 2013. Total capital raised was $10 million, with $34.3m of new capital listed.
The average daily volume traded was up 49.6 per cent per cent to 4710 trades. The daily average value traded was down 3.6 per cent to $102m during January.
Capitalisation for the equity market was $84.6b in January, an increase of 22.5 per cent, amounting to 38.5 per cent of GDP.
The NZX 50 index opened the year at 4737.0 points, increasing 2.9 per cent to close the month at 4874.6 points.