23.12.202522:56:51UTC+00New Zealand Stocks Muted in Morning Trade

The NZX 50 held steady around the 13,512 mark during Wednesday morning's trading session, following a modest uptick in the previous day. As the market approached the Christmas break, trading volumes were thin, leading to a day characterized by limited activity. Despite this half-day of trading, gains in the consumer discretionary and energy sectors managed to outpace the declines experienced in the consumer staples and IT sectors. Market participants took advantage of the shortened trading period; however, the absence of significant market catalysts kept the trading environment subdued. New Zealand's markets closed early on Christmas Eve and remained closed on December 25 and 26. Investors exercised caution after the US Q3 GDP figures were released, which surpassed expectations and bolstered predictions that the Federal Reserve would hold interest rates steady in January. This positive trend on Wall Street improved overall market sentiment. The Summerset Group enjoyed a 1.4% increase, while Ebos Group and Infratil both reported a 0.4% rise. Conversely, A2 Milk and Fisher & Paykel experienced declines of 1.9% and 0.4%, respectively.