The benchmark NZX-50 index rose as high as 3491 points during the morning from its 3475.00 points close on Friday, but went into steep decline for most of the afternoon, bottoming out at 3477 points shortly before the close of trade.
The index hit a three-month low under 3415 points last Wednesday.
But the 43 rises of stocks --among the total 106 traded - were double the 21 falls recorded as 55 million stocks changed hands, valued at $147.5 million.
The index stocks showed some signs of recovering as Infrastructure Minister Bill English said the government would invest $7.6 billion on social assets such as schools, hospitals, state houses and prisons over the next four years, $6.5 billion on roads and about $1.5 billion each on broadband and rail, in addition to the $5.5 billion set aside to rebuild Canterbury.
Though Fletcher Building shares were up 9c in early trade they finished the day down 0.47 per cent, dropping 4c to 856.
Goodman fell 3.57 per cent, dropping 5c to 135, and Goodman Property stock fell 1.03 per cent with a 1c drop to 96c.
The NZ Refining Company fell 0.8 per cent, by 3c to 372.
But Mainfreight lifted nearly 1 per cent, by 10c to 1029, and Freightway lifted 3.4 per cent, by 11c to 335.
Contact Energy was up 6c to 546, and Trustpower rose 4c (0.55 percent) to 728
Port of Tauranga lifted 4c (0.44 per cent) to 905, and cornerstone stock Telecom rose 1.5c to 253 as 28 million of its shares changed hands.
Pumpkin Patch rose 6.6 per cent to 113.
Shares in juice-maker Charlie's shot up 15c (53.6 per cent) to 43c - after closing at 28c on Friday - on the back of a takeover bid for the business by Japanese giant Asahi priced at 44c a share.
The company's founders Stefan Lepionka, Mark Ellis and Simon Neal, have already agreed to sell their stakes in the juice-maker, but Asahi wants at least 90 per cent of the shares stake to allow an automatic acquisition of the remaining shares.
Simultaneously Asahi has launched a $A188 million bid to buyout P&N Beverages Australia Ltd, the third biggest drinks maker by volume in Australia.
Across the Tasman, the benchmark ASX200 index was 19.5 points, (0.42 per cent) higher, at 4610.7, while the broader All Ordinaries index was 22.5 points, (0.48 per cent), higher at 4670.4.
On the ASX 24, the September share price index futures contract was up 14 points to 4600, with 29,829 contracts traded.
In the US, stocks started July with a bang on Friday (US time) with Wall Street scoring its best week in two years - ahead of the July 4 public holiday.
For the day, the Dow Jones industrial average rose 1.4 per cent to end at 12,582.77, the Standard & Poor's 500 Index added 1.4 per cent, to finish unofficially at 1339.67. The Nasdaq Composite Index shot up 1.5 per cent to 2816.03.
For the week, the Dow rose 5.4 per cent, the S&P 500 gained 5.6 per cent and the Nasdaq climbed 6.2 per cent. For the latest updates PRESS CTR + D or visit Stock Market news Today
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