The stock market in New Zealand has been suffering a fall since today morning as the Dollar lost while the cash rates gained.

The cash rate reportedly jumped 25 basis points to 3%. With this, the hopes for growth seem to be fading off, said Reserve Bank Governor Alan Bollard.

However, the analysts said that the dip in the currency will benefit the exporters.

The benchmark NZX-50 index surged 10.835 points, or 0.359%, reaching 3033.016. The business return turned out to be $87.3 million.

Of the total 110 stock trading, 39 gained while 34 fell.

The investors are now eyeing the widening of the Ryman Healthcare business as well as that of Telecom in Australia.

Grant Williamson, Director of Hamilton, said that the increment in the interest rates is no big surprise.

Ryman Healthcare remained stable with 204 stocks trading.

"They are a highly successful company with excellent management so investors are happy they are trying to expand elsewhere", Williamson said.

Telecom jumped 3c to 199. Williamson said that those considering a deal with Telecom are likely to suffer heavy losses.