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%.
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.
