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Home Companies

NSX trades N$800m in a week

by editor
April 21, 2022
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 Close to N$800 million has changed hands on the Namibian Stock Exchange (NSX) in the past week, with a record trade of N$391.22 million recorded in one day.

The high value consecutive trades were recorded starting Wednesday last week when N$48.15 million was traded, followed by the record N$391.12 million on Thursday, while N$166.12 million was traded on Tuesday and N$192.06 million traded on Wednesday this week.

Liaan de Kock, Dealer with Simonis Storm speculated that the high value trades were due to asset managers re-balancing their portfolios.

“Yes, for this year, the N$391 million traded on the 14th April was the highest and interestingly, the second highest was on April the 4th, a total of N$389 million was traded on that day,” he said.

“We would normally see higher trading values when the asset managers “re-balance” their portfolios. This normally happens at the start of a quarter and that could explain why the value traded in April has been so high.

Rebalancing portfolios according to Investopedia is the process of realigning the weightings of a portfolio of assets and it involves periodically buying or selling assets in a portfolio to maintain an original or desired level of asset allocation or risk.

De Kock noted that it was very rare for the NSX to record high value trades.

“It’s not that common, but I would say that we normally see at least 1x trading day per month that would exceed N$100 million in 1 day,” he said.

According to data from the NSX, over 28.16 million shares, valued at N$1.5 billion have been traded overall on the bourse for the month of April.

Overall year to date, over 60.9 million shares have been traded on the NSX valued at N$3.35 billion.

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