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Market Recap 29 July to 4 Aug 2020

Market Recap 29 July to 4 Aug 2020


The local market was active this week, with the NSX Local index down 0.95% at 479, and the NSX Overall Index down 2.62% at 1091. As at 4 August, Trustco Group was the largest local company on the exchange, with market capitalization of N$ 8 billion, followed by Namibia Breweries with N$ 7.1 billion, Capricorn Group with N$ 6.9 billion, and FirstRand Namibia with N$ 6.1 billion. Trustco Group lead the market this week with growth of 4.6% to close at N$ 5.00 per share. In terms of volume Namibia Breweries lead the market with N$ 5.3 million worth of shares traded, with Trustco Group in second place with N$ 289 thousand worth of shares traded. The local currency lost 5.19% against the US Dollar, to close at N$ 17.38 per USD, and lost 6.32% against the British Pound, to close at N$ 22.72 per GBP. It closed at N$ 20.51 against the Euro, a loss of 5.97%.


local market NSX index down Overall


The Bank of Namibia released its Money and Banking Statistics for June 2020, and revealed that growth in private sector credit extension increased during the month, standing at 2.8%, a 0.6% increase from the previous month. The higher growth was due to increased borrowings from households during the month, with household debt increasing by 8.1% for the month, up from 5.2% in May, and corporates contracting by 3.6%, down from 1.7% contraction in May. Overdraft credit grew by 0.8%, up from the 5% contraction during May, while Instalment credit contracted by 8.6%, with mortgage loans moderating to 1.8%, down by 1% from the previous month.


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