The benchmark NZX50 index fell 17 points, or 0.5%, to close at 3306 on turnover of $113 million on Thursday.
In currency markets at 5.20pm, the NZ dollar was at 79.40 US, 77.89 Australian cents, 50.45 pence, 61.20 yen and 0.5760 euro. The Trade Weighted Index was at 69.64.
Fletcher Building was down 25 cents to $6.67, after issuing a profit warning on Wednesday, and it's now shed more than $800 million in value and lost its position as the country's top stock to Telecom.
Telecom was down 2 cents to $2.53 and Contact Energy was down 11 cents at $5.66.
Sky City Entertainment was down 2 cents at $3.45, Sky Television was down 4 cents at $5.45 and Fisher & Paykel Healthcare was down 3 cents to $2.54.
Mainfreight was up 3 cents to $9.75, Cavalier was down 5 cents to $2.70 and The Warehouse was up 4 cents to $3.24.