The NZX 50 began the week on a muted note, trading around 13,745 in early Monday deals. This came after two sessions of gains, as advances in the energy and healthcare sectors were balanced out by losses in tech, utilities, and consumer staples.
Traders remained watchful of the worsening Middle East conflict and its effects on oil prices, with inflation concerns lingering. Caution grew ahead of key economic data releases in New Zealand, including food inflation and business PMI figures due later in the week.
Investors also awaited US inflation data for insights into the Federal Reserve's upcoming interest rate decision, along with China's September CPI and PPI data, amid weak domestic demand and rising oil prices. Meanwhile, US stock futures showed little movement following Wall Street's winning week.
Notable movers included Ebos Group, up 2.1%, Colonial Motor, gaining 1.4%, and Freightways Group, climbing 0.9%. On the downside, Fletcher Building and A2 Milk fell 0.9% and 0.8%, respectively.