NZX rebounds as investors return to market

After a bad start to the week, the NZX has rebounded today. File photo / Kenny Rodger

The New Zealand sharemarket has recovered from two days of falls, with bargain hunters out in force today as investors returned to the sharemarket.

All stocks on the NZX 50 are up, with the exception of Vector which was down 4 cents to $2.31.

The NZX-50 rose by 2.78 per cent through the day

Mark Lister of Craigs Investment Partners says some of the stocks became attractive as a reaction to the rally in the European and US markets.

"Given that some pretty high quality companies had taken a bit of a hit and dividend yields were starting to look quite attractive so there was a bit of bargain hunting.''

The New Zealand dollar has fallen back a bit, after initially rebounding from just above US81 cents this morning to a high of US84.15 cents.

Westpac market strategist Imre Spizer says the Kiwi is now around US83.20 cents.

"It's just dribbled off a bit and gone sideways, really nothing going on to drive things until we open up tonight on Wall Street and I guess the markets will all be looking to how US equities perform.''

Mr Spizer says it will indicate whether there is further gains or a reassertion of global risk aversion.

- Newstalk ZB, HERALD ONLINE