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Market Recap 10 June to 16 June 2020

Market Recap 10 June to 16 June 2020

The local market picked up this week, with the NSX Local index down 10.01% at 522, and the NSX Overall Index down 4.43% at 1048. As at 16 June, FirstRand Namibia was the largest local company on the exchange, with market capitalization of N$ 8.7 billion, followed by Namibia Breweries with N$ 7.24 billion, Capricorn Group with N$ 7.23 billion, and Standard Bank Namibia with N$ 4.4 billion. Paratus Namibia Holdings lead the market this week with growth of 6.9% to close at N$11 per share. In terms of volume Namibia Breweries lead the market with N$ 762 thousand worth of shares traded, with FirstRand Namibia in second place with N$ 471 thousand worth of shares traded. The local currency lost 2.13% against the US Dollar, to close at N$ 16.99 per USD, and lost 0.9% against the British Pound, to close at N$ 21.37 per GBP. It closed at N$ 19.14 against the Euro, a loss of 1.46%.

 

local market week NSX index down Overall 16 June FirstRand

 

The Namibia Statistics Agency released the inflation figures for the month of May 2020, and revealed that annual inflation is now 2.1% compared to 4.1% the same time last year, having reduced from the 1.6% recorded for April 2020. Decreases in the price index was due to housing, water, electricity, and fuels (1.9% to -0.6%), and transport (7.6% to -0.1%). Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 2.3% compared to 2.1% last month, with Zone 2 (Khomas) seeing inflation of 1.9% compared to 0.8% last month. Zone 3 (Omaheke, Hardap, Karas and Erongo) had inflation of 1.9%, compared to 2.2% last month.

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