The benchmark NZX50 index fell 6 points, or 0.2%, to close at
3054 on Tuesday on turnover of $20 million.
Two of the major stocks were down - Fletcher Building 4c to $8.22 and Telecom 3c to $1.87 - but Contact Energy gained 6c to $5.93.
Fisher and Paykel Healthcare fell 5c to $3.19 while Fisher and Paykel Appliances was unchanged at 56c.
Pine Gould Corporation gained 1c to 45c after announcing it was considering a merger with the Canterbury Building Society and the Southern Cross Building Society with the aim of creating a bank.
Restaurant Brands finished up 7c at $2.32 after announcing improved first-quarter sales results.
Allied Farmers dropped 0.1c to a record low of 5c after increasing Allied Nationwide's credit facility from $5 million to $10 million.
Australian market dragged down
The Australian sharemarket closed moderately lower, dragged down by weakness among financial stocks.
The benchmark S&P/ASX200 index shed 16.6 points, or 0.37%, to 4413.1 points, while the broader All Ordinaries fell 16.9 points, or 0.38%, to 4436.7.