NZX equity activity surges in March, debt figures weaken

NZX equity activity surges in March, debt figures weaken

By Jason Krupp

April 5 (BusinessDesk) - Trading on the NZX Ltd.'s equity markets surged in March as the steady pace of the global economic recovery overshadowed the Japanese crisis. Trading on its debt market continued to decline.

The total number of trades rose 19.1% to 60,463 in March from the same month a year earlier, and total value traded rose 60% to $3 billion, according to the NZX's latest operational report.

That was driven by surge in equities, where trading activity jumped 23.6% compared to last year, and values leapt 65.9% to $2.9 billion. The figures represent performance data from the Mainboard as well as the ailing NZ Alternative Market, after the stock market operator stopped supplying separate performance information on the NZAX in February.

Debt transaction on the NZDX fell 26.6% to 3,318 in March compared to the same month previously, with values declining 12.7% to $123 million.

Total capital raised for March was $524 million, taking the year to date total to $635 million, consisting of $506 million in equity capital and $18 million in debt capital.

That brought the stock market's capitalisation to $58.2 billion, a 5.9% increase on March last year, representing 29.8% of New Zealand's gross domestic product. Debt market capitalisation fell 1% to $15.8 billion when compared to the previous period, representing 8% of GDP.

The number of equity securities fell to 172 in the month, 6% lower than the previous year, while debt securities declined 7.4% to 112.

(BusinessDesk)

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