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Market Recap 28 Oct to 3 Nov 2020

Market Recap 28 Oct to 3 Nov 2020

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%.

 

Market Recap local NSX index down Overall

 

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.

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