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Market Recap 26 Aug to 1 Sep 2020

Market Recap 26 Aug to 1 Sep 2020

The local market was active this week, with the NSX Local index down 5.59% at 450, and the NSX Overall Index down 3.68% at 1053. As at 1 September, Capricorn Group was the largest local company on the exchange, with market capitalization of N$ 6.7 billion, followed by FirstRand Namibia with N$ 6.2 billion, Namibia Breweries with N$ 6 billion, and Trustco Group with N$ 5.3 billion. FirstRand Namibia lead the market this week with growth of 0.17% to close at N$ 23.05 per share, with Stimulus Investments in second place, closing at N$ 129.91 per share after growth of 0.09%. In terms of volume Namibia Breweries lead the market with N$ 36.2 million worth of shares traded, with Stimulus Investments in second place with N$ 2 million worth of shares traded. The local currency gained 1.26% against the US Dollar, to close at N$ 16.62 per USD, and lost 0.45% against the British Pound, to close at N$ 22.24 per GBP. It closed at N$ 19.80 against the Euro, a gain of 0.62%.

 

Market Recap local active NSX index down Overall

 

The Bank of Namibia released its Money and Banking Statistics for July 2020, and revealed that growth in private sector credit extension decreased during the month, standing at 2.3%, a 0.5% decrease from the previous month. The lower growth was due to decreased borrowings from households during the month, with household debt increasing by 4.9% for the month, down from 8.1% in June, and corporates contracting by 1.1%, up from 3.6% contraction in June. Overdraft credit contracted by 1.4%, down from the 0.8% growth during June, while Instalment credit contracted by 8.5%, with mortgage loans increasing to 2.2%, up by 0.4% from the previous month.

 

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