KEY POINTS:
The sharemarket triumphed during the historically-cursed month of October, gaining strongly.
While the total number of shares traded was lower, the value of trading was up sharply.
The total value of trades on the NZX in October rose by 21 per cent on the same period last year, but the number of trades fell 13 per cent, the NZX said yesterday.
The decreases probably reflected greater market interest from institutional investors than retail investors, NZX head of markets Geoff Brown said.
The increasing dollar value of trades was a general trend over the past few months.
The trade figures for the period to June showed moderate increases on last year, but since June there had been declines in trade against the equivalent period for last year.
During October the NZX 50 index rose 5.4 per cent and hit a record high on the first day of November.
October is notorious for being a "difficult" month, according to market veteran Barry Lindsay, research head at First NZ Capital.
"There's no real reason, that's just the way it is."
The month coincides with several "traumatic" cases for investors: the stockmarket crash in October 1987, and the crash of October 1997.
First NZ Capital's Lindsay said corporate activity such as the proposed merger between Port of Tauranga and Ports of Auckland, Brisbane-based SunCorp's takeover bid for its insurance sector rival Promina Group, and Independent News &Media's announcement that it would buy the remaining interests in APN News & Media would have fired investor activity, particularly among institutions.
Shares in Air New Zealand rose 9 per cent, sparked by falling oil prices.
Port of Tauranga shares rose 25 per cent during the month, APN rose 23 per cent, and shares in Promina Group rose 15.8 per cent.
October trading
* NZX 50 index gained 5.4 per cent.
* Total value of trades rose 21 per cent
* Total number of trades for month fell 13 per cent
* Average number of daily trades fell 17 per cent
