The sharemarket appeared to be little changed on Thursday, the benchmark Top 50 Index falling just one point to 4765.
But Tyndall Investment Management equities manager Rickey Ward says the flat index disguised a reasonably active market.
He says a few stocks improved, Sky Television being the main one as it gains continued support, mainly out of Australian investors, and it was included in the ASX 200 last week.
Mr Ward says that's the main index that Australian fund managers measure themselves against and therefore it has got attention from Australian investors.
He says Nuplex is up on the back of continued improving data from Europe in particular.
Mr Ward says the retail sector remains under pressure, recently released results from Kathmandu indicated challenging times in a difficult environment in both New Zealand and Australia.
Tyndall manages about $500 million of equities.
Sky Network Television shares rose 2 cents to $5.90 while Nuplex shares gained 4 cents to $3.50.
Among retailers, outdoor clothing company, Kathmandu, eased 2 cents to $3.43 while clothing retailer, Hallenstein Glasson Holdings, sank 11 cents to $4.93.
Earlier on Thursday, Hallenstein said annual profit fell 11% following a downturn in its Glassons brand whose Australian arm actually recorded a loss.
Dollar near bottom of recent trading range
The New Zealand dollar is hovering near the bottom of its recent trading range as investors await to see whether the United States manages to avert a government shutdown and a debt default.
Rankin Treasury managing director Derek Rankin says investors want to avoid risk ahead of the US deadlines.
"The market place again is also having to once again look at the American situation and what they're doing with the budget discussions, debates that are going on in the United States, and reaching their debt ceiling and that deadline is looming."
Mr Rankin says generally both the Australian dollar and the New Zealand dollar have been drifting lower.
At about 5pm on Thursday, the kiwi was trading at 82.51 US cents, well off the recent high at 84.35 cents, 88.12 Australian cents, 51.31 British pence, 0.61 euro and 81.57 yen.
