CHART OF THE WEEK: NSX and JSE Equity Performance: 1H 2024 Gross Returns
Media_Cirrus Chart of the Week 8 July 2024

CHART OF THE WEEK: NSX and JSE Equity Performance: 1H 2024 Gross Returns

Both Namibia and South Africa are in election years, which can bring a level of uncertainty to the market. This is more so in liquid markets such as South Africa, where the JSE Top 40 index declined at the start of the year as factors such as political uncertainty, loadshedding, sticky inflation, and low growth have reduced investor confidence.



However, BHP’s unsolicited proposal to purchase Anglo American PLC in April 2024 saw the index rise, and South Africa’s election results and formation of a Government of National Unity subsequently saw investor confidence improve in South Africa. The JSE Top 40 1H 2024 Year-to-Date (YTD) performance stood at 5.5%.



The NSX Local had a less volatile year, increasing slowly but steadily over the past six months with Capricorn Group Ltd strongly driving the positive return. NSX Local 1H ‘24 YTD Performance = 5.8%.



The Cirrus Namibia Capped Dual Listed Equity Index highlights the returns from the JSE primary listed stocks that are dual listed on the NSX. Only tracking the stocks dual listed on the NSX, the index had a better return than the NSX Local and the JSE Top 40. Cirrus Namibia Capped Dual Listed Equity Index 1H ‘24 YTD performance = 9.1%.



The NSX Overall, being a combination of the local listed stocks and the dual listed stocks, was volatile thus far given the South African exposures, but provided the best return in 1H ‘24. NSX Overall YTD performance = 13.2%.

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Currency: GBP to NAD 23.23 | EUR to NAD 19.56 | CNY to NAD 2.48 | USD to NAD 17.98 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.29 | EGP to NAD 0.37 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.69 | ZWL to NAD 0.04 | BRL to NAD 3.3 | RUB to NAD 0.2 | INR to NAD 0.22 | USD to DZD 133.9 | USD to AOA 872.63 | USD to BWP 13.47 | USD to EGP 47.95 | USD to KES 128.73 | USD to NGN 1570.5 | USD to ZAR 17.97 | USD to ZMW 25.65 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1801.68 Up +0.89% | Casablanca Stock Exchange (CSE) MASI 13360.07 Up +0.09% | Egyptian Exchange (EGX) 30 Index 28287.98 Down -0.63% | Botswana Stock Exchange (BSE) DCI 9380.4 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 405.35/OZ DOWN -0.0044 | Copper US$ 4.53/lb UP +0.12% | Zinc US$ 2 929.60/T DOWN -1.25% | Brent Crude Oil US$ 86.53/BBP UP +0.59% | Platinum US$ 992.52/OZ DOWN -0.0126 |