The local market was active this week, with the NSX Local index down 0.18% at 615, and the NSX Overall Index down 1.92% at 1329.
As at 12 November, Trustco Group was the largest local company on the exchange, with market capitalization of N$ 10.9 billion, followed by Namibia Breweries with N$ 10 billion, FirstRand Namibia with N$ 9 billion, and Capricorn Investment Group with N$ 7.9 billion.
Namibia Breweries lead the market this week, with growth of 0.04% to close at N$ 48.34 per share, while FirstRand Namibia took second place, closing at N$ 33.40 after growth of 0.03% In terms of volume FirstRand Namibia lead the market with N$ 2.3 million worth of shares traded, with Capricorn Investment Group in second place with N$ 1.4 million worth of shares traded.
The local currency lost 1.36% against the US Dollar, to close at N$ 14.95 per USD, and lost 1.05% against the British Pound, to close at N$ 19.21 per GBP. It closed at N$ 16.46 against the Euro, a loss of 0.78%.
The Bank of Namibia released the Money and Banking Statistics for September 2019, and revealed that private sector credit extension grew at 6.5% for the month, up by 0.1% from August.
Both business and households contributed to this growth, with business growth up to 6.2% from 6.0% from the previous month, and households and individuals up to 6.8% from 6.7% the previous month.
This was driven by an increase in overdraft credit, up to 6.6% from 5.9% in August, as well as other loans and advances, which rose by 0.5% to 19.7% during the month.
Instalment credit remained in the negative, as its contraction for the month was 6.1%, while growth in mortgage credit stood at 6.3% for September, down from 6.4% in August.