Wellington - The New Zealand stock market rallied Tuesday after falling for more than a week, with analysts saying investors did some bargain hunting, apparently buoyed by the Citigroup rescue which returned a little confidence to Wall Street.

The benchmark NZX-50 index closed up 2.31 per cent, having risen 59.40 points to 2634.88.

Leading stocks, including Telecom, Fletcher Building and Contact Energy, all rose in price. (dpa)