The value of shares traded on the Namibia Securities Exchange (NSX) local board fell to N$129 million in the first quarter of 2025, down from N$146 million during the same period last year, despite improvements in overall market indices and capitalisation.
Data from the Bank of Namibia (BoN) shows that local trading activity slowed, with the number of deals declining from 396 in the second quarter of 2024 to 311 in the first quarter of this year.
No new listings or delistings were recorded during the period under review.
“The Local Index increased from 677 in Q1 2024 to 716 by Q1 2025, supported by a rise in local market capitalisation from N$45 billion to N$48 billion. However, local trading volumes declined, with 6.5 million shares traded in Q1 2025 compared to 8.7 million a year earlier,” the central bank said in its latest financial markets report.
Across the broader market, the NSX Index rose from 1,529 at the start of 2024 to a peak of 1,898 in the third quarter, before falling back to 1,720 by the end of March 2025.
Market capitalisation followed a similar trend, climbing to N$2.56 trillion in Q3 before dropping to N$2.33 trillion in Q1 2025.
The free float market cap also declined from N$1.715 trillion to N$1.551 trillion over the same period.
“At the end of March 2025, the Overall Index dropped by 4.5 percent to 1,719.53 index points. In line with the poor performance of the dual-listed shares during the period under review, declines in the majority of the sub-indices mirrored the decline in the overall index,” the BoN stated.
While local trade value dropped, the broader market remained relatively active.
A total of 28 million shares were traded across the NSX in Q1 2025, valued at N$1.617 billion. The number of deals rose marginally to 1,220.
In comparison, the Johannesburg Stock Exchange (JSE) All Share Index rose by 5.4 percent during the quarter, closing March 2025 at 88,637 points.
