The local market was active this week, with the NSX Local index down 0.21% at 606, and the NSX Overall Index down 3.3% at 1258.
As at 28 January, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 9.9 billion, followed by FirstRand Namibia with N$ 9 billion, Capricorn Investment Group with N$ 7.8 billion, and Trustco Group with N$ 6.5 billion.
Namibia Asset Management lead the market this week with growth of 9.09% to close at N$ 0.60 per share, with Standard Bank Namibia in second place with growth of 0.11% to close at N$ 9.21 per share.
In terms of volume Namibia Breweries lead the market with N$ 28.8 million worth of shares traded, with Standard Bank Namibia in second place with N$ 1.2 million worth of shares traded.
The local currency lost 0.46% against the US Dollar, to close at N$ 14.55 per USD, and lost 0.21% against the British Pound, to close at N$ 18.94 per GBP. It closed at N$ 16.03 against the Euro, a gain of 0.1%.
The Bank of Namibia released its Quarterly Bulletin for December 2019, and revealed that in the third quarter of 2019 Namibia’s current account deficit decreased significantly due to the merchandise trade deficit going down.
The deficit reduced to N$ 1.1 billion, compared to N$ 1.3 billion in the same quarter in 2018.
Namibia’s stock of international reserves declined moderately, resulting in the country having an import cover of 4.3 months.
The country had a net external liability position of N$ 12.3 billion for the quarter, down from N$ 14.9 billion at the same time last year.
Government debt at the end of the quarter stood at 49.3%, a 4.1% increase year-on-year.