NZX rises during a quiet trading day

The S&P/NZX 50 Index increased 18.2 points, or 0.2 percent, to 10,012.77. Within the index, 20 stocks rose, 22 fell, and eight were unchanged. Turnover was $106 million.

Pushpay led the market higher, up 2.4 percent at $3.79 on a volume of 265,000 shares, about two-thirds its 90-day average. The software developer has climbed 23 percent since March 27, benefiting as a weaker kiwi dollar increases the value of its US-focused business. It has also recovered from a sell-off through the second half of last year.

Fletcher Building rose 2.1 percent to $5.27 on a volume of 613,000 shares, about half its 1.22 million three-month average. The country's biggest listed construction company has gained 13 percent since March 25, with some speculation that it might give investors a more optimistic update at the Macquarie investor conference that starts in Sydney tomorrow.

"Fletcher Building continued its upward trajectory. Value investors, in particular, are moving in to buy that stock," said Peter McIntyre, an investment adviser at Craigs Investment Partners.