The New Zealand sharemarket registered a slip touching its lowest level in 10 months during a mixed session in which companies posting negative results were punished.

The benchmark NZX-50 index managed to cope, closing up at 23.646 points, or 0.785 per cent, at 3034.833. Turnover reported was worth $92.9 million. The 108 stocks traded witnessed 47 rises and 39 falls.

Also, Sanford marked a close down 4.3 per cent, or 19c, at 427 after witnessing a significant squeeze in profit yesterday.

While, Mainfreight registered a slip 1.3 per cent to $5.91 after reporting a 2.5 per cent gain in full-year profit attributed by Company's initiative to reduce costs and took less in charges, in wake of a 10.5 per cent squeeze in sales.

Annual dividends decided remain unchanged at 18.5 cents a share and Mainfreight finds no signs for recovery in demand in its main markets.

Grant Williamson, director at Hamilton, Hindin, Greene, quoted, "Mainfreight was maybe not quite what the market was hoping for but the outlook is for continued improvement".

In the United States, Wall Street witnessed another late-day reversal, closing lower over concerns that China was reiterating its euro-zone debt holdings nudging investors into profit-taking mode.