The Namibian Stock Exchange (NSX) Local Index hit a three-month low in November after recording trades valued at N$44.7 million, down from N$125.3 million in October, Cirrus Securities has said.
“The N$44.7 million traded in Nov ‘22 is the lowest since Aug ‘22 but still above the 12-month average,” the company said.
Namibia Breweries Ltd was the most traded share at N$30.9 million on the bourse in November, down from N$112.0 million traded prior month, followed by Oryx Properties Ltd at N$5 million and Capricorn Group at N$3.6 million.
Year to date (YTD), N$565.5 million of shares were traded on the NSX Local.
“Namibia Breweries Ltd remains in the lead YTD at N$252.2 million traded. FirstRand Namibia Ltd follows at N$137.8 million, thereafter Capricorn Group Ltd at N$92.7 million,” according to Cirrus data.
“The pace of the YTD value slowed in Nov ’22, bringing the YTD figure in line with ‘16 levels. Letshego Holdings Namibia Ltd up 54.1% Oryx Properties Ltd up 13.9% FirstRand Namibia Ltd up 8.5%.”
Anglo American remains the most active dual listed share on the NSX year to date according Cirrus data, with N$1.4 billion traded, followed by FirstRand Ltd at N$1.1 billion, and Nedbank Group Ltd at N$1 billion.
“YTD value traded on the NSX Overall amounts to N$10.5 billion. The overall value growth has slowed considerably since the large value trades on Jul ‘22.”
This comes as the year 2021 saw N$439.7 million being traded on the NSX’s Local board, which is the lowest in local trading dating back to 2014. The poor volumes according to Cirrus Securities, can be attributed to the lacklustre domestic economy taking away the shine from listed companies.
Namibia Breweries was the top performing local share in 2021, up 48.8% and FirstRand Namibia was rated 2nd in terms of performance, up 28.0%.
FirstRand Namibia was the most actively traded local share, with N$123 million exchanging hands in 2021.
