LOCAL EQUITY MARKET CAP REMAINS FLAT IN JULY

MBABANE – The local equity market’s capitalisation remained at E6.904 billion between the end of June 2024 and the end of July 2024.

According to the Eswatini Stock Exchange (ESE), the market capitalisation did not change, because there were no trades that affected the share prices in the period under review.
Market capitalisation (or market cap) refers to the total Dollar market value of a company’s outstanding shares as derived from its share price. Market cap is thus calculated by multiplying the number of a company’s shares outstanding by the current market price of one share.

Year-on-year, the market capitalisation realised a 56.78 per cent gain from E4 403 722 628 in July 2023 to E6 904 364 785 at the end of July 2024, which is attributed to Nkonyeni Pre-cast and First National Bank of Eswatini listings and share price increases since July 2023 until end of July 2024.  The ESE All-Share Index remained at 491.98 between the end of June 2024 and the end of July 2024.  The All-Share Index remained the same, because there were no share price changes in the period under review.  Year-on-year, the All-Share Index increased by 5.97 per cent from 464.27 in July 2023 to 491.98 in July 2024.

Empowerment

Nkonyeni Pre-cast Limited gained 50 per cent from its listing price of SZL1 in November 2023. The other listed companies with capital gains on a yearly basis are Royal Eswatini Sugar Corporation at 11.84 per cent, followed by Inala Capital at 7.14, Greystone Partners Limited at 6.25 per cent, Nedbank at 3.45 per cent, Swazi Empowerment Limited at 2.63 per cent and Swaziland Property Investments Limited (SWAPROP) at 1.27 per cent. Meanwhile, according to the ESE, as of July 31, 2024, total government bonds stood at E6 352 532 000. Month-on-month, government bonds remained at E6 352 532 000 between the end of June 2024 and July 2024.The government bonds trading on the ESE remained the same, as there were no new bonds that commenced trading and there were no bonds that matured in the period under review.

Value

On a yearly basis, there was a 2.12 per cent increase from E6 220 682 000 in July 2023 to E6 352 532 000 at the end of July 2024. As of July 31, 2024, total corporate bonds value stood at E1 644 154 004. Month-on-month, corporate bonds value increased by 4.81 per cent from E1 568 712 207 at the end of June 2024 to E1 644 154 004 at the end of July 2024.
The increase was due to a trade-off between bond values that commenced trading and those that matured. On a yearly basis, there was a 2.93 per cent increase in bonds trading/outstanding from E1 597 422 209 at the end of July 2023 to E1 644 154 004 at the end of July 2024.

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