The local market was active this week, with the NSX Local index down 0.4% at 546, and the NSX Overall Index up 2.23% at 963. As at 19 May, FirstRand Namibia was the largest local company on the exchange, with market capitalization of N$ 8.9 billion, followed by Namibia Breweries with N$ 7.9 billion, Capricorn Investment Group with N$ 7.6 billion, and Standard Bank Namibia with N$ 4.4 billion. In terms of volume Namibia Breweries lead the market with N$ 896 thousand worth of shares traded, with FirstRand Namibia in second place with N$ 418 thousand worth of shares traded. The local currency lost 0.51% against the US Dollar, to close at N$ 18.34 per USD, and lost 0.45% against the British Pound, to close at N$ 22.48 per GBP. It closed at N$ 20.04 against the Euro, a loss of 1.2%.
The Namibia Statistics Agency released the inflation figures for the month of April 2020, and revealed that annual inflation is now 1.6% compared to 4.5% the same time last year, having reduced from the 2.4% recorded for March 2020. Decreases in price were due to alcoholic beverages and tobacco (7.5 percent to 0.4%), housing, water, electricity, and fuels category (2.2% to -0.5%), as well as Transport (7.1% to -0.1%). Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 2.1% compared to 2.6% last month, with Zone 2 (Khomas) seeing inflation of 0.8% compared to 2.0% last month. Zone 3 (Omaheke, Hardap, Karas and Erongo) had inflation of 2.2%, compared to 2.5% last month.