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Market Recap 22 July to 28 July 2020

Market Recap 22 July to 28 July 2020

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%.

 

local market active week NSX index Trustco Group

 

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.

 

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