The Namibian Stock Exchange (NSX) recorded its lowest year-to-date (YTD) trading volume since 2012, with a total of N$4.2 billion traded across both local and dual-listed equities during the first eight months of 2024, recent data shows.
According to data from Cirrus, this marks a significant slowdown in market activity, placing 2024 among the slowest trading years in the NSX’s 29-year history, and the worst since 2011 when adjusted for inflation.
“For the first eight months of 2024, the NSX has seen N$4.2 billion in value traded for local and dual-listed equities. This is the lowest that the YTD value traded has been since 2012. When adjusted for inflation, this is the seventh slowest year on the NSX in its 29-year existence and the worst since 2011,” said Cirrus.
On the other hand, the Local Index witnessed a modest recovery in trading activity during August 2024, with a total of N$21.6 million in value exchanged.
This represents a month-over-month improvement, although the figure remains significantly lower than the N$32.1 million 12-month rolling average and nearly half of what was traded in August 2023.
“A total of N$21.6 million traded in August 2024, an improvement m/m but almost half the value traded in August 2023. This is below the 12-month rolling average value traded of N$32.1 million,” the report reads.
The report stated that despite the uptick in August, the year-to-date performance of the NSX Local Index remains underwhelming.
As of the end of August, the cumulative value traded on the NSX Local Index stood at N$269.3 million, reflecting a sluggish market.
FirstRand Namibia Ltd emerged as the most traded stock on the NSX Local Index in August, with N$10.7 million exchanged.
Standard Bank Namibia Holdings and Namibia Breweries followed, with N$4.9 million and N$2.6 million traded, respectively.
In the dual-listed segment, the report stated that Nedbank Group led trading in August with N$86.3 million exchanged, followed by Anglo American PLC at N$43.5 million.
Overall, N$311.0 million was traded on the NSX in August 2024, the lowest monthly trading volume for the year, significantly below the 12-month average of N$520.2 million.
