Red month for Local Index
The Covid-19 pandemic has been wreaking havoc on markets globally and the NSX was no exception in March.
Jo-Maré Duddy – The Local Index of the Namibian Stock Exchange (NSX) ended last month at 558.19 points, the lowest for the month of March since 2017.
The Covid-19 pandemic has been ravaging world markets as it spreads globally. The Local Index dropped by 6.6% compared to March. Since the end of 2019, it has fallen by nearly 9.1%.
The index’s free float market capitalisation for the month of March was also the lowest since 2017. Free float methodology market capitalisation is calculated by taking the equity's price and multiplying it by the number of shares readily available in the market.
The total free float market capitalisation of the Local Index at the end of last month was N$12.063 billion, about N$515 million of nearly 4.1% less than the end of March 2019. In the same month in 2018, it was N$12.685 billion, while it stood at N$11.218 billion at the end of March 2017.
Compared to February 2019, the total free float market capitalisation of the Local Index dropped by about N$824 million or nearly 6.4%. Since the end of last year, the figure is down by some N$1.16 billion or 8.8%.
The Overall Index ended last month at 900.32 points, a slump of 21.5% compared to the end of February 2019. Since 31 December 2019, the Overall Index has lost more than 31%.
By comparison, the JSE All Share Index last month dropped by 12.83% compared to February, while it is down some 22% since the start of 2020.
Companies
Not one of the companies on the Local Index ended March on a higher note than the previous one. Four ended lower.
The biggest loser on the Local Index last month was Namibia Breweries. NamBrew ended March at N$40 per share, N$7.46 or 15.7% down from the end of February.
SBN Holdings closed at N$8.45 per share, down 45c or 5.1%. Letshego Holdings (Namibia) ended 12c or 4.8% lower at N$2.37 per share.
Paratus Holdings Namibia dropped by 10c or 0.1% to N$10.17 a piece, while FirstRand Namibia edged back 1c or 0.03% to N$33.38 per share.
Nearly N$36.8 million worth of shares were traded on the Local Index of the NSX last month, while about N$729.1 million worth of deals were clinched on the Overall Index.
The Covid-19 pandemic has been ravaging world markets as it spreads globally. The Local Index dropped by 6.6% compared to March. Since the end of 2019, it has fallen by nearly 9.1%.
The index’s free float market capitalisation for the month of March was also the lowest since 2017. Free float methodology market capitalisation is calculated by taking the equity's price and multiplying it by the number of shares readily available in the market.
The total free float market capitalisation of the Local Index at the end of last month was N$12.063 billion, about N$515 million of nearly 4.1% less than the end of March 2019. In the same month in 2018, it was N$12.685 billion, while it stood at N$11.218 billion at the end of March 2017.
Compared to February 2019, the total free float market capitalisation of the Local Index dropped by about N$824 million or nearly 6.4%. Since the end of last year, the figure is down by some N$1.16 billion or 8.8%.
The Overall Index ended last month at 900.32 points, a slump of 21.5% compared to the end of February 2019. Since 31 December 2019, the Overall Index has lost more than 31%.
By comparison, the JSE All Share Index last month dropped by 12.83% compared to February, while it is down some 22% since the start of 2020.
Companies
Not one of the companies on the Local Index ended March on a higher note than the previous one. Four ended lower.
The biggest loser on the Local Index last month was Namibia Breweries. NamBrew ended March at N$40 per share, N$7.46 or 15.7% down from the end of February.
SBN Holdings closed at N$8.45 per share, down 45c or 5.1%. Letshego Holdings (Namibia) ended 12c or 4.8% lower at N$2.37 per share.
Paratus Holdings Namibia dropped by 10c or 0.1% to N$10.17 a piece, while FirstRand Namibia edged back 1c or 0.03% to N$33.38 per share.
Nearly N$36.8 million worth of shares were traded on the Local Index of the NSX last month, while about N$729.1 million worth of deals were clinched on the Overall Index.
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