Distribution services shares gained the most on New Zealand's Exchange, rising almost 3% by midday Monday.

Shares of Vulcan Steel (NZE:VSL, ASX:VSL) rose nearly 3% in recent trade.

Meanwhile, the utilities sector shares fell past 1%.

Shares of Meridian Energy (NZE:MEL, ASX:MEZ) drove the decline, falling almost 2% in recent trade.

The company said on Monday that its retail contracted sales volumes rose to 860 gigawatt hours (GWh) in May from 798 GWh a year earlier.