The local market was active this week, with the NSX Local index down 0.52% at 462, and the NSX Overall Index down 6.34% at 1019. As at 3 November, Capricorn Group was the largest local company on the exchange, with market capitalization of N$ 6.7 billion, followed by Namibia Breweries with N$ 6.6 billion, FirstRand Namibia with N$ 6.2 billion, and Trustco Group with N$ 4.5 billion. Trustco Group lead the market this week with growth of 6.79% to close at N$ 2.83 per share. In terms of volume Namibia Breweries lead the market with N$ 14.9 million worth of shares traded, with Oryx Properties in second place with N$ 3.5 million worth of shares traded. The local currency gained 0.91% against the US Dollar, to close at N$ 16.05 per USD, and gained 0.8% against the British Pound, to close at N$ 20.96 per GBP. It closed at N$ 18.80 against the Euro, a gain of 1.61%.
The Bank of Namibia released its Money and Banking Statistics for September 2020, and revealed that growth in private sector credit extension decreased during the month, standing at 1.8%, a 0.8% decrease from the previous month. The slow growth was offset by increased borrowings from households during the month, with household debt increasing by 5% for the month, up from 4.3% in August, but corporate credit contracted by 2.2%, down from 0.4% growth in August. Overdraft credit grew by 3.8%, down from the 6% growth during August, while Instalment credit contracted by 9.2%, with mortgage loans decreasing to 1.3%, down by 0.4% from the previous month.