NSX: Local Index still in the red

Jo-Maré Duddy – The Local Index of the Namibian Stock Exchange (NSX) remained in the red today, while the Overall Index clawed its way back into positive area.The Local Index ended this afternoon at 583.86 points, 0.4% lower than yesterday when it closed at its lowest point since 2017.A drop in the share price of Namibia Breweries caused the drop. NamBrew closed at N$45.00 per share, 99c or 2.2% down from yesterday.All other share prices on the Local Index remained the same.The Overall Index rose by 1.41% to close at 905.50 points. The index yesterday dropped to its lowest level since 2016.The JSE ended at 41 579.60, up 2.67% from yesterday. The JSE yesterday fell below 38 784 points, its lowest level since August 2013.Global stocksStocks were pushing higher on Wall Street this afternoon, a day after their worst plunge in more than three decades, as more aid appears on the way from Washington for an economy struggling under the coronavirus outbreak.AP reports that markets around the world remain highly volatile as traders see a recession growing more likely and large sections of the economy come closer to shutting down due to the coronavirus outbreak. The 4.1% rise for the S&P 500 follows Monday's 12% plummet.The Dow Jones Industrial Average jumped more than 600 points in early trading, fell 300 then pulled higher again. It was up about 547 points, or 2.7%. In the meantime, trading is unsettled around the world. European stocks swung from gains to losses. South Korean stocks fell to their fifth straight loss of 2.5%, but Japanese stocks shook off an early loss to edge higher.The S&P 500 was is still roughly 25% below its record set last month and is back to where it was in late 2018, erasing most of the best year for stocks in decades.OilBrent crude fell below US$30 a barrel today to its lowest since 2016, as the coronavirus pandemic hits economic growth and oil demand while Saudi Arabia and Russia keep up their battle for market share.Brent crude futures fell 22 US cents, or 0.7%, to US$29.85 a barrel by 11:42 a.m. EDT (1542 GMT).The US crude benchmark, however, diverged from Brent and was modestly higher. West Texas Intermediate (WTI) crude futures rose 5 US cents to US$28.75 a barrel. It has slumped more than 50% since Jan. 2. – Additional reporting by Nampa/AP/Reuters

NSX: Local Index still in the red

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Namibian Sun 2025-06-18

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NSX: Local Index still in the red

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Namibian Sun 2025-06-18

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