Cash trading volumes on the NZX slowed in January, continuing December's trend, while the value of trading rose despite fewer small trades.

The volume of cash market trading fell 12 per cent to 110,935 in January from the same month a year earlier, with total value traded up 2.3 per cent to $2.2 billion, Wellington-based NZX said in its monthly shareholder metrics.

​Daily average trades dropped 16.4 per cent to 5,547, while the daily average value dipped 2.8 per cent to $111 million. The number of trades worth less than $50,000 dropped 12.6 per cent to 104,757.

The volume of equity transactions in January fell 12 per cent to 108,668 and the value of those trades rose 3 per cent to $2.1 billion. The benchmark S&P/NZX 50 Index ended the month 2.5 per cent higher at 7,050.75, drifting upwards on light holiday volumes over the month ahead of February's reporting season.


Meanwhile, the volume of debt transactions increased 4.4 per cent to 2,267 as the value traded declined 11 per cent to $89 million. NZX's debt market had renewed vigour last year as low interest rates made bonds an attractive funding option for companies. The number of debt securities on the market jumped 20.2 per cent compared with the year earlier to 107, while the 303 listed securities across all asset classes was up 4.8 per cent.

Shares of NZX last traded at $1.11 and have gained 8.8 per cent in the past year