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Market Recap 7 Oct to 13 Oct 2020

Market Recap 7 Oct to 13 Oct 2020

The local market was active this week, with the NSX Local index down 0.11% at 464, and the NSX Overall Index up 1.92% at 1088. As at 13 October, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 6.725 billion, followed by Capricorn Group with N$ 6.721 billion, FirstRand Namibia with N$ 6.2 billion, and Trustco Group with N$ 5.1 billion. Paratus Namibia lead the market this week with growth of 2.27% to close at N$ 11.25 per share, with FirstRand Namibia in second place with growth of 0.04% to close at N$ 23.07 per share. In terms of volume Capricorn Group lead the market with N$ 14.2 million worth of shares traded, with FirstRand Namibia in second place with N$ 4.2 million worth of shares traded. The local currency gained 1.52% against the US Dollar, to close at N$ 16.47 per USD, and gained 1.11% against the British Pound, to close at N$ 21.30 per GBP. It closed at N$ 19.34 against the Euro, a gain of 1.42%.

 

Market Recap NSX Local index down

 

The Namibia Statistics Agency released the Trade Statistics Bulletin for August 2020, and revealed that trade during the month was lower by 11.5%, with N$ 14.6 billion in trade compared to N$ 16.5 billion in July 2020. This is also lower than the N$ 14.7 billion recorded in August 2019. Exported declined by 3.2% to N$ 6.3 billion from N$ 6.6 billion in July, with imports dropping by 17% to N$ 8 billion. As a result, the country recorded a trade deficit of N$ 1.9 billion, an improvement of the N$ 3.4 billion deficit recorded in July. China was Namibia’s largest export market (41%), while South Africa was Namibia’s largest import market (41.9%). Most export goods left via seaports (55.8%), while 77.7% of imports were done via road.

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