Hey, hey hey hey, the NZX-50 is back in black (to borrow a line from veteran rockers AC/DC).
In what should hopefully translate to good news for KiwiSaver funds, the local market touched a new record this afternoon shaking off months of volatility.
Most KiwiSaver funds posted negative returns in the first three months of this year after a dramatic slump in sharemarkets around the world, in early February.
The S&P/NZX 50 Index dropped 0.9 per cent in the first quarter while global shares fell 2.7 per cent in the MSCI Global Index.
The index closed at t 8619 points this afternoon - surpassing the previous high at 8608 on March 21.