Share trading up in April

The total volume of trades on the sharemarket fell slightly in April, but the value of the trades remained steady compared to the previous month, data from the New Zealand Exchange (NZX) shows.

The NZX operating metrics released today showed that total numbers of volume and value were either slightly lower or unchanged compared to March, but daily averages increased.

The total value of trades was $2.5 billion in April, in line with March figure, but the average daily value increased from $119 million to $127 million.

The number of average daily trades rose to 2803 in April, up 10 per cent on the year-earlier and up from 2780 in March. The total number fell to 56,060, down from 58,382 in March, but 10 per cent higher than April last year..

The market hit a jittery patch in mid-April, when the benchmark NZSX-50 gross index lost 2 per cent of its value in one day. But the fall was seen as re-rating rather than a sign of an impending crash and there was no large scale investor exodus.

There were no new listings on the main board in April, but the alternative market, the NZAX, had its first listing for the year with Avon Investments.

In April NZX rolled out the Smartshares savings plan to all investors. Investors in each of Smartshare's exchange traded funds (ETF) can now make regular monthly contributions to their Smartshares holdings.

Smartshares now has $175 million of funds under management across its four ETF.

Shares in NZX were up 5c at $7.95 in early trading today, having ranged between $7.10 and $10.55 over the past 12 months.

- NZPA