The share market had a strongly positive day after several days in a row of being little changed, fuelled by results from some of the major companies including Fletcher Building, Auckland International Airport and Trade Me.
The benchmark Top 50 share index rose 43 points to 4552.
First NZ Capital broker Don Lewthwaite says the results provided the day's main focus.
Fletcher Building shares rose 51 cents, or more than 6%, to $8.72 on Wednesday.
Mr Lewthwaite says it was a very strong day but there was no surprise with regard to Fletcher Building.
Auckland International Airport shares edged up 5 cents to $3.30 and Mr Lewthwaite says that was in line with expectations although there was a good volume of shares traded.
He says Trade Me shares, which sank 22 cents to $4.48, were also in line with expectations.
Mr Lewthwaite says there was some switching of overseas funds from Trade Me to Fletcher Building which had a serious effect on both stocks.
The New Zealand dollar fell against all major trading partners on Wednesday.
ANZ senior manager in the foreign exchange market Sam Tuck says the kiwi was dragged down in the wake of the Australian dollar as funds flowed out of Asian currencies such as Indonesia's and India's.
He says the New Zealand data has been looking good from a domestic perspective, but the currency markets are relative to what is happening internationally.
"So if things are improving or people are perceiving the US side of the equation to be improving and becoming more attractive the New Zealand dollar does get dragged around."
At around 5.15pm on Wednesday, the New Zealand dollar was trading at 79.33 US cents, down from 79.85 cents at that time on Tuesday, it fell to 87.75 Australian cents from 88.10, by nearly half a penny to 50.65 British pence, more than half a euro to 59.12 and about half a yen to 77.35.