Contact led the index higher, rising 1.8 per cent to $7.92. Fewer than 438,000 shares changed hands, about half its average daily volume the past three months.
Electricity and property stocks have gained strongly in recent months as declining interest rates boosted demand for defensive sectors with strong dividends.
Tourism Holdings gained 1.7 per cent at $4.09, with 66,000 shares traded – about a third of the daily average. Skellerup Holdings also gained 1.7 per cent at $2.38. The 39,500 shares traded were only about a quarter of the usual volume.
Spark New Zealand was the most heavily traded stock of the day, rising 1.5 per cent to $4.03. About 3.3 million shares were traded, just ahead of its three-month daily average.
Investors continue to digest news that Vodafone New Zealand, now owned by Infratil and Brookfield Asset Management, will be ahead of the pack as it plans to switch on a 5G network in major cities in December.
More than a million Infratil shares changed hands today, the stock down 0.1 per cent at $4.67.
McIntyre said full-year reports from firms due in coming weeks will be keenly awaited, given the mixed picture in the economy.
"We have seen some parts of the economy, and business confidence, soften with the expectation of an interest rate cut."
The latest ANZ-Roy Morgan survey of consumer confidence today fell 6 points in July to 116.4, the lowest reading so far this year. While a net 39 per cent of those surveyed think it's a good time to buy a major household item, a net 1 per cent expect the economy to be in worse shape in a year's time. A net 12 per cent had been expecting conditions to improve in the previous survey.
Australia & New Zealand Banking Group led the decliners, down 2 per cent at $28.81. Auckland International Airport fell 1.5 per cent to $9.35, on about half its usual daily volume.
Air New Zealand rose 0.7 per cent to $2.73, also on lighter than usual volumes. McIntyre said the share price was aided by a sharp drop in oil prices overnight.
Network operator Chorus fell 1.5 per cent to $5.45. The 852,000 shares traded was close to twice its usual daily volume.
Among other stocks trading on more than a million shares, Argosy Property fell 0.4 per cent to $1415, Kiwi Property Group fell 0.3 per cent to $1.615, and Goodman Property was unchanged at $2.075.