Select your Top Menu from wp menus
  • Instagram
  • TikTok
Market Recap 1 July to 7 July 2020

Market Recap 1 July to 7 July 2020


The local market was active this week, with the NSX Local index up 0.02% at 515, and the NSX Overall Index down 0.11% at 1054. As at 7 July, FirstRand Namibia was the largest local company on the exchange, with market capitalization of N$ 8.5 billion, followed by Namibia Breweries with N$ 7.24 billion, Capricorn Group with N$ 7.23 billion, and Trustco Group with N$ 6.7 billion. Trustco Group lead the market this week with growth of 14.75% to close at N$4.20 per share, with Standard Bank Namibia Holdings in second place with growth of 0.13% to close at N$ 7.50 per share. In terms of volume Namibia Breweries lead the market with N$ 533 thousand worth of shares traded, with FirstRand Namibia in second place with N$ 327 thousand worth of shares traded. The local currency gained 0.89% against the US Dollar, to close at N$ 17.17 per USD, and lost 0.23% against the British Pound, to close at N$ 21.54 per GBP. It closed at N$ 19.36 against the Euro, a gain of 0.55%.


local market active NSX index FirstRand


The Bank of Namibia released its Money and Banking Statistics for May 2020, and revealed that growth in private sector credit extension dropped during the month, standing at 2.2%, a 1.5% decrease from the previous month. The lower growth was due to decreased borrowings from corporates during the month, with household debt increasing by 5.2% for the month, down from 5.7% in April, and corporates contracting by 1.7%, down from 1.1% growth in May. Overdraft credit contracted by 5%, further down from the 1.8% contraction during May, while personal loans and credit cards saw an increase of 9.7%, decreasing from the 11.6% in May. Instalment credit declined by a further 0.8%, recording a contraction of 8.3%, with mortgage loans moderating to 2.8%, down by 1.1% from the previous month.


Related posts