The NZX 50 index rose 33 points (0.8%) on Friday to close at 4050 on turnover of $157 million.
Fonterra's Shareholders Fund units - issued at $5.50 - were launched at noon.
At one point, units in the Shareholders Fund - which allows outsiders keen to get indirect access to the dairy co-operative's profits for the first time - reached a high of nearly $7 before easing back to close at $6.85 a unit.
Hamilton Hinden Green broker James Smalley says it's the listing investors have been craving.
"We've been crying out for some prepresentation of Fonterra - our largest company," he says.
"Now we've got it, and demand has been very very heavy".
Nearly 26 million units changed hands, about a quarter of the entire shares, worth $173 million.
The market capitalisation of the fund stood at $654 million.
Among the shares, Fletcher Building rose 7 cents to $7.88, Chorus rose 3 cents at $3.37, and
Sky TV Network rose 4 cents to $5.26.
Fisher & Paykel Healthcare rose 4 cents to $2.55, The Warehouse rose 1 cent to $3.16, and accounting software seller Xero rose 21 cents to $6.65.
Vector rose 7 cents to $2.71, Hallenstein Glasson rose 7 cents to $5.06, Ryman rose 5 cents to $4.20, and Rubicon finished 5 cents higher at 30 cents.
Comvita fell 12 cents to $3.63, Lyttelton Port fell 5 cents to $2, Methven fell 5 cents to $1.37, Energy Mad fell 4 cents to 50 cents.
Hellaby's fell 4 cents to $2.85, and cornerstone stock Telecom fell 2 cents to $2.33.
Contact Energy was down 5 cents at $5.32 and Sky City Entertainment fell 1 cent to $3.65,
Across the Tasman, Australia's sharemarket made its biggest weekly gain in six weeks.
The All Ordinaries ended 0.6% higher at 4518 and the ASX 200 added 28 points to 4507 points, which is off session highs.
The market was buoyed from the outset by a strong end to trade on global markets overnight after an upward revision to third-quarter economic growth in the United States.
At the end of the trading day, the New Zealand dollar was trading at 82.27 US cents, 78.90 Australian cents, 51.26 pence, 67.79 yen, 06330 of a euro and the TWI was at 73.62 points.