The local market was quite active this week, with the NSX Local index up 3.95% at 484, and the NSX Overall Index down 0.22% at 1105. As at 28 July, Trustco Group was the largest local company on the exchange, with market capitalization of N$ 7.6 billion, followed by Namibia Breweries with N$ 7.2 billion, Capricorn Group with N$ 6.9 billion, and FirstRand Namibia with N$ 6.1 billion. Capricorn Group lead the market this week with growth of 22.73% to close at N$ 13.50 per share, with Trustco Group in second place, closing at N$ 4.78 after growth of 13.54%. In terms of volume FirstRand Namibia lead the market with N$ 3.7 million worth of shares traded, with Capricorn Group in second place with N$ 3.3 million worth of shares traded. The local currency lost 0.68% against the US Dollar, to close at N$ 16.52 per USD, and lost 2.3% against the British Pound, to close at N$ 21.37 per GBP. It closed at N$ 19.36 against the Euro, a loss of 2.33%.
Nictus Holdings Namibia has announced that the negotiations referred to in its cautionary announcement has concluded. A significant subsidiary of Nictus Namibia, Auas Motors, has obtained the right to act as an authorized Suzuki distributor in Namibia, effective 1 August 2020. Nictus notes that in terms of the listing requirements, this is a category 3 transaction, or less than 5% of its market capitalization, which is currently N$ 85 million. Nictus considers the addition of the Suzuki franchise part of its mission to create exceptional wealth for all its stakeholders.