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Market Recap 8 July to 14 July 2020

Market Recap 8 July to 14 July 2020

 

The local market was quiet this week, with the NSX Local index down 1.11% at 509, and the NSX Overall Index up 5.84% at 1116. As at 14 July, FirstRand Namibia was the largest local company on the exchange, with market capitalization of N$ 8.3 billion, followed by Capricorn Group with N$ 7.2 billion, Namibia Breweries with N$ 7.1 billion, and Trustco Group with N$ 5.6 billion. In terms of volume Agra Ltd lead the market with N$ 143 thousand worth of shares traded, with Standard Bank Namibia in second place with N$ 97 thousand worth of shares traded. The local currency gained 2.67% against the US Dollar, to close at N$ 16.71 per USD, and gained 2.6% against the British Pound, to close at N$ 20.98 per GBP. It closed at N$ 19.05 against the Euro, a gain of 1.58%.

 

local market NSX index down FirstRand Namibia Capricorn Group Trustco

 

The Namibia Statistics Agency released the inflation figures for the month of June 2020, and revealed that annual inflation is now 2.1% compared to 3.9% the same time last year, having stabilized from the 2.1% recorded for May 2020. The slow growth in the price index was due to declines registered in the price levels of transport (7.0% to -0.8%), Hotel and restaurants (5.4% to 1.1%) and housing, water, electricity and fuels (2.0% to -0.6%). Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 2.4% compared to 2.3% last month, with Zone 2 (Khomas) seeing inflation of 2.1% compared to 1.9% last month. Zone 3 (Omaheke, Hardap, Karas and Erongo) had inflation of 1.8%, compared to 1.9% last month.

 

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