WEEKLY market review
16 January to 22 January 2019
The local market remained subdued this week, with the NSX Local index up 0.02% at 618, and the NSX Overall Index down 0.74% to close at 1324. As at 22 January, Trustco Group was the largest local company on the exchange, with market capitalization of N$ 14.7 billion, followed by FirstRand Namibia with N$ 11.6 billion, Namibia Breweries with N$ 9.4 billion, and Capricorn Investment Group with N$ 8.2 billion. Capricorn Investment Group lead the market this week, with growth of 0.06% to close at N$ 15.80 per share. In terms of volume Namibia Breweries lead the market with N$ 12.6 million worth of shares traded, with Capricorn Investment Group in second place with N$ 1.2 million worth of shares traded. The local currency lost 1.71% against the US Dollar, to close at N$ 13.97 per USD, and lost 2.49% against the British Pound, to close at N$ 18.10 per GBP. It closed at N$ 15.87 against the Euro, a loss of 1.27%.
The Bank of Namibia’s latest quarterly bulletin revealed that Namibia’s net foreign direct investments during the third quarter of 2018 dropped to just N$ 1.6 billion, more than half down from the same quarter in 2017. This was due to a reduction is the net inflows of reinvested earnings, which reduced from N$ 2.76 billion in Q3 2017 to just N$ 760 million in Q3 2018, as well as net inflows from debt instruments, which were N$ 1.25 billion in Q3 2017 but were only N$ 760 in Q3 2018.