New Zealand stocks dropped 133 points, or 1.0%, to close at 13,880 on Thursday, erasing gains in the morning session and from the previous two days, as traders took profit after the index hit a record high a day earlier. The broader index declined from the 14,000 level reached for the first time on Wednesday, supported by the materials sector. However, a rise in US stock futures following a surge in Nvidia shares after its earnings report limited the fall. Almost all sectors traded in the red, led by consumer staples. Precinct Properties NZ plunged 4.3% after its earnings report. Other bottom performers were A2 Milk (-3.4%), Meridian Energy (-2.7%), EBOS Group (-1.3%), Infratil (-1.3%), ANZ Group (-1.2%), and Fisher & Paykel (-1.0%). Meanwhile, Genesis Energy rose 1.8% after reporting higher earnings, though profit was halved due to a valuation hit. Summerset Group surged 8.0% after reporting a 92% surge in net profit for the six months ended June 30, 2026.