Here are the key changes to know about in the New Zealand equity market; NZX 50 rises +0.2% as Gentrack, EBOS, Property for Industry and Tower gain; Serko, a2 Milk, Sanford and Hallensteins decline

Here are the key things you need to know about in the NZX markets over the past 24 hours. Changes are as at 3:00 pm and may change when the market closes at 4:45 pm.

WHAT THE NZX 50 INDEX IS DOING
The NZX 50 is up +0.2% for today, taking its five-day gain to +0.3%, remaining down -1.5% lower over the past month. The index is +5.1% higher over six months and +1.8% over the past year. There were 55 gainers compared with 36 decliners, as stronger performances among several previously weaker stocks help the equity market recover some ground. 

THE MAIN GAINERS
Gentrack (GTK, #47) is the strongest gainer, rising +5% and extending its five-day gain to +3%, although the stock remains under significant pressure over longer periods, down -15% over one month, -41% over six months and -60% year-on-year. EBOS Group (EBO, #11) rebounds +4%, recovering some of its recent losses, although it remains -1% lower over five days, -6% over one month, -17% over six months and -35% over the past year. Property for Industry (PFI, #29) gains +3%, taking its five-day decline to -2% and one-month decline to -3%, while it is broadly flat over six months at -1% and remains -12% lower year-on-year. Tower (TWR, #38) also rises +3%, extending its five-day gain to +4% and one-month gain to +6%, although the stock remains -17% lower over the past year. 

THE MAIN DECLINERS
Serko (SKO, #49) is the weakest performer, falling -4% and extending its five-day decline to -10% and one-month decline to -25%. The stock remains down -30% over six months and -55% year-on-year, highlighting its continued weakness despite the broader market edging higher. a2 Milk (ATM, #8) falls -1%, taking its five-day performance to -2% and leaving it -2% lower over one month, -29% over six months and -21% year-on-year. Sanford (SAN, #42) also declines -1%, extending its five-day fall to -6% and one-month decline to -9%, while it remains -13% lower over six months despite being +8% higher than a year ago. Hallenstein Glassons (HLG, #34) rounds out the leading decliners with a -1% fall, trimming some of its recent momentum but leaving the stock +22% higher over one month, +46% over six months and +57% year-on-year. 

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
September’s NZX (NZX, #45) equity market saw a sharp increase in trading activity despite relatively flat value traded, with total equity transactions rising +108.8% year-on-year to 1.93 million while equity value traded fell -1.3% to $3.56 bln. The average on-market trade size dropped -45.9% to $1,413, indicating the higher transaction volumes were driven largely by smaller trades. The S&P/NZX 50 Gross Index rose +4.1% year-on-year to 13,834, while total market capitalisation fell -0.8% to $244.4 bln. Capital listed and raised year-to-date was $1.85 bln, down -49.1%, reflecting weaker equity issuance and secondary capital raising compared with the previous year.

Tower (TWR, #38) has raised its FY26 underlying net profit after tax guidance to $69 mln-$79 mln, from its previous range of $55 mln-$65 mln, based on preliminary unaudited results. The upgrade reflects lower-than-expected large event claims, with around $25 mln incurred against a $45 mln allowance, resulting in an estimated $14 mln after-tax uplift. Customer numbers grew +8% to 345,000, driven by New Zealand home insurance and partnership growth, while gross written premium increased +3%, in line with guidance. Tower says competitive pricing is supporting customer growth, while expanded risk-based pricing is improving portfolio quality and reducing exposure to weather-related impacts. Reported profit will still include further customer remediation costs, with full FY26 results due on the 26th of November.