"I don't think interest rates are going to move nearly as quickly as people are fearful of at the moment, so the quite sizeable pullback in the market we've had over the last couple of months does bring some good opportunities for domestic investors," Metcalfe said. "The sell-off has been a bit too aggressive and there are opportunities because these companies are not going anywhere. I think the underlying strength of the market will continue."
Fisher and Paykel Healthcare rose 0.7 percent to $9.22, and has gained 7.2 percent since Donald Trump was elected US president.
"It's clearly benefiting from the Trump presidency, healthcare companies will generally do well under Trump," Metcalfe said. "He promised to deregulate banking and healthcare to make it easier to get drugs to market, which is positive for those companies that have a lot of sales in the US."
Tower was the worst performer on the local index for the second day, down 3.2 percent to 76.5 cents. The insurer said the cost of the earthquake in the upper South Island is limited by its reinsurance programme and can only lower its profit by a maximum $7.2 million.
Warehouse Group dropped 1.7 percent to $2.95 and Xero fell 1.1 percent to $17.50.
Outside the NZX50, Hellaby Holdings dropped 0.6 percent to $3.29. The Takeovers Panel says it won't accede to a request from Bapcor Finance to convene a meeting to look into alleged breaches of the Takeovers Code by Hellaby and its adviser Grant Samuel in urging shareholders to reject a takeover offer from the ASX-listed company.
Turners gained 2.5 percent to $3.23. The financial services firm, formerly known as Dorchester Pacific, has strengthened its ties with Motor Trade Finance by funding a non-recourse loan product that will allow MTF's franchisees and dealers to sell vehicles to people with a higher credit risk.