The local market was quiet this week, with the NSX Local index up 0.02% at 465, and the NSX Overall Index up 1.72% at 1090. As at 20 October, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 6.728 billion, followed by Capricorn Group with N$ 6.721 billion, FirstRand Namibia with N$ 6.2 billion, and Trustco Group with N$ 5.3 billion. Trustco Group lead the market this week with growth of 3.45% to close at N$ 3.30 per share, with Standard Bank Namibia in second place with growth of 0.14% to close at N$ 6.91 per share. In terms of volume Oryx Properties lead the market with N$ 1.3 million worth of shares traded, with Capricorn Group in second place with N$ 831 thousand worth of shares traded. The local currency lost 0.03% against the US Dollar, to close at N$ 16.48 per USD, and lost 0.09% against the British Pound, to close at N$ 21.32 per GBP. It closed at N$ 19.47 against the Euro, a loss of 0.68%.
The Namibia Statistics Agency released the inflation figures for the month of September 2020, and revealed that annual inflation is now 2.4% compared to 3.3% the same time last year, having increased from the 2.4% recorded for August 2020. The slow growth in the price index was due to declines registered in the price levels of clothing and footwear (1.4% to -5%). Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 2.5% compared to 2.5% last month, with Zone 2 (Khomas) seeing inflation of 2.6% compared to 2.9% last month. Zone 3 (Omaheke, Hardap, Karas and Erongo) had inflation of 1.9%, compared to 1.5% last month.