Here are the key changes to know about in the New Zealand equity market; NZX 50 falls -0.3% as Gentrack, Sanford, Oceania and Heartland gain while Serko, Scales, Fletchers and Meridian 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 edged -0.3% lower as selling pressure persisted across the market, with 49 decliners against just 33 gainers. The benchmark is now down -1.0% over five trading days and -1.5% over the past month, trimming its gains to +5.4% over six months and +2.0% year-on-year. 

THE MAIN GAINERS
Gentrack (GTK, #47) was the standout performer, surging +7% to extend its five-day gain to +4% and lift its monthly advance to +3%. The software provider remains under pressure over longer periods, however, down -28% over six months and -54% year-on-year. Sanford (SAN, #43) rose +3%, recovering some ground despite being down -4% over the month and -19% over six months; the seafood company remains +6% higher year-on-year. Oceania Healthcare (OCA, #45) added +2%, extending its five-day gain to +2%, although it remains down -9% over the month, -6% over six months and -12% year-on-year. Heartland Group Holdings (HGH, #28) edged up +1%, with gains of +8% over six months and +16% year-on-year providing a stronger longer-term picture despite a -1% monthly decline. 

THE MAIN DECLINERS
Serko (SKO, #49) led the decliners, falling -3% and extending its five-day loss to -5%. The travel and expense software company is down -13% over the month, -36% over six months and -63% year-on-year, making it the weakest longer-term performer among the stocks highlighted. Scales Corporation (SCL, #33) dropped -2%, despite remaining up +2% over five trading days, +7% over six months and +6% year-on-year; its monthly performance is down -4%. Fletcher Building (FBU, #14) fell -2%, taking its five-day decline to -6% and its monthly loss to -13%. The building products group remains up +8% over six months and +1% year-on-year. Meridian Energy (MEL, #2) also shed -2%, extending its five-day decline to -1%. The renewable electricity generator is down -3% over the month, -4% over six months and -7% year-on-year, adding to the pressure on energy stocks during Tuesday’s session. 

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
Kiwi Property Group (KPG, #21) expects the value of its property portfolio, including inventories, to fall by -0.5% or $14.1 mln for the six months ended 30 September. The portfolio is expected to be valued at $3.0 bln at the end of the period. Draft valuations remain subject to external review and finalisation, with confirmed figures due alongside the company’s interim results on the 23rd of November. 

Meridian Energy (MEL, #2) reported strong hydro conditions in September, with monthly inflows at 150% of historical average and Waitaki catchment storage at 183% of average. First-quarter inflows were 154% of average, up +29% year-on-year, helping lift generation +18.9% above the same period last year to a record first-quarter level, although at an average price -64.3% lower. National hydro storage fell to 121% of historical average by the 12th of October. September national electricity demand declined -0.5% year-on-year, while Meridian’s retail sales volumes fell -6.4%. Customer connections increased slightly during the month, with more than 245,000 customers now migrated to its Kraken platform. FY27 capital expenditure guidance remains unchanged at $370 mln to $410 mln, comprising $110 mln to $120 mln in stay-in-business expenditure, $220 mln to $250 mln in growth expenditure and $40 mln in repowering expenditure.

Westpac recognised a $41 mln pre-tax notable item in 2H26 for expenses related to RAMS litigation matters and associated legal costs. It has also revised its credit quality reporting categories to improve alignment with provisioning disclosures, introducing a new category for individually assessed exposures and reallocating impaired exposures across other non-performing categories. A reclassification of some hardship arrangements affected reported mortgage delinquencies of more than 90 days, increasing the comparative figures by 3 basis points at September 2025 and 5 basis points at March. The impacts on credit quality, provisioning and capital were immaterial, and comparatives have not been restated. Full-year 2026 results are scheduled for release on the 2nd of November.