The value of shares traded on the Namibia Securities Exchange (NSX) Local Index surged to N$124 million in the fourth quarter of 2024, doubling from N$60 million in the third quarter, latest data shows.
According to the Bank of Namibia (BoN) Quarterly Bulletin, despite this increase, trading value remained below the N$233 million recorded in the second quarter of 2023.
This comes as Local Index maintained a stable market capitalisation of N$46 billion in the fourth quarter of 2024, unchanged from the previous two quarters.
The BoN reported that the Local Index rose by 1.34% to 691.32 points at the end of December 2024, supported by gains in financial sector stocks.
“This represents an increase of 1.34 %, relative to what was registered at the end of the preceding quarter as the local stocks recovered, driven by good performances in financial indices,” BoN noted.
Meanwhile, trading activity showed a mixed performance as the number of shares traded increased to 8.8 million in Q4 2024, a significant recovery from 4.1 million in Q3, but still below the 11.5 million shares traded in Q2 2023.
Despite the increased trading volume, the number of deals executed on the NSX Local Index declined to 299 in Q4, down from 347 in Q3 and significantly lower than the 464 deals recorded in Q2 2023.
Notably, the local exchange did not see any new listings or de-listings in Q4 2024, maintaining a consistent portfolio of listed companies without expansion or contraction.
Sectoral performance on the NSX Local Index varied, with consumer staples, consumer discretionary, financials, and real estate indices recording quarterly declines of 0.5%, 4.9%, 6.3%, and 1.5%, respectively, BoN noted.
While the NSX Local Index demonstrated resilience, the overall market capitalisation, which includes both local and dual-listed companies, fell by 4.6% to N$2.44 trillion due to weaker performances in dual-listed shares.
The Overall index decreased by 5.1% to 1,801.18 index points at the end of December 2024. The decrease in the Overall Index was reflected by decreases in all the subindices consistent with the weak performance of the dual-listed shares during the period under review.
The JSE All Share index recorded a marginal quarterly increase of 0.41%, closing at 84,054 points at the end of December 2024.
