The local market was quiet this week, with the NSX Local index down 0.11% at 616, and the NSX Overall Index up 0.94% at 1341.
As at 5 November, Trustco Group was the largest local company on the exchange, with market capitalization of N$ 11.4 billion, followed by Namibia Breweries with N$ 10 billion, FirstRand Namibia with N$ 8.9 billion, and Capricorn Investment Group with N$ 8 billion.
In terms of volume Oryx Properties lead the market with N$ 1.5 million worth of shares traded, with Trustco Group in second place with N$ 1.2 million worth of shares traded.
The local currency lost 1.14% against the US Dollar, to close at N$ 14.76 per USD, and lost 1.28% against the British Pound, to close at N$ 19.01 per GBP. It closed at N$ 16.34 against the Euro, a loss of 0.8%.
Oryx Properties announced that their proposed acquisition of a residential portfolio, with three tenanted development and 111 units, valued at N$ 86.7 million, had met all conditions precedent and was thus concluded on 29 October 2019.
Management indicated that this will allow Oryx shareholders diversification into a segment of the residential property sector that remains active, and has indicated that this acquisition is yield-enhancing, having been acquired at 10% net yield, and will continue to provide long-term value.