NZX sees increase in smaller trades
The New Zealand stock exchange increased the number of trades last month compared to February last year but the value traded dropped.
NZX monthly metrics for February showed the number of trades was 93,742 - up 14.8 per cent from the same month last year - but the total value traded dropped 23.9 per cent to $2.6 billion.
Trades of less than $50,000 increased 16.9 per cent last month, to 87,160.
There were nine capital raisings in February, bringing the total for the year to 22. Total capital raised was $92 million, with no new capital listed last month.
The average daily volume traded was up 14.8 per cent to 4934 trades. The daily average value traded was down 23.9 per cent to $138m during February.
Capitalisation for the equity market was $86.1b at the end of February, an increase of 23.5 per cent compared to a year ago, amounting to 41.1 per cent of GDP.
The NZX 50 index opened the year at 4737.0 points, increasing 5.3 per cent to close at the end of February at 4990.0 points.
The NZX 50 index hit an all-time high yesterday of 5042.4 points after breaking through 5000 points on Monday for the first time.