The benchmark NZX50 index fell nine points on Tuesday to close at 3230 on turnover of $67 million.
There were mixed results for the three major stocks. Fletcher Building gained 6c to $5.89, Telecom was unchanged at $2.04 and Contact Energy lost 10c to $5.71.
Auckland International Airport was unchanged at $2.07, Air New Zealand down 1c to $1.29, and Fisher and Paykel Healthcare down 5c to $3.
Sky City Entertainment dropped 1cent to $2.88 and Sky Network Television 10c to $5.09.
New Zealand Oil also fell (2c to $1.27), as did the Warehouse (4c to $3.76), but Kathmandu put on 7c to close at $1.89, while
Hallenstein Glassons gained 15c to $4.39 after announcing a 53% jump in year-on-year profit.
In currency markets, the NZ dollar was at 73.244 US, 76.47 Australian, 46.42 pence, 61.88 yen and .5459 euro, while the TWI stood at 66.51.
Across the Tasman
The Australian sharemarket clawed back most of its early losses to close marginally lower after stronger banking stocks capped falls in the mining sector.
The benchmark S&P/ASX200 index was down 5.6 points, or 0.12%, at 4669.8, while the broader All Ordinaries index eased 5.2 points, or 0.11%, to 4717.
On the Sydney Futures Exchange the December share price index contract was seven points lower at 4697 on a volume of 17,468 contracts.