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Market Recap 11 November to 17 November 2020

Market Recap 11 November to 17 November 2020

The local market was somewhat active this week, with the NSX Local index up 0.11% at 465, and the NSX Overall Index up 1.29% at 1175. As at 17 November, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 6.8 billion, followed Capricorn Group by with N$ 6.7 billion, FirstRand Namibia with N$ 6.2 billion, and Trustco Group with N$ 5 billion. Trustco Group lead the market this week with growth of 5% to close at N$ 3.15 per share, followed by Paratus Namibia who grew by 2.22% to close at N$ 11.50 per share. In terms of volume FirstRand Namibia lead the market with N$ 3.5 million worth of shares traded, with Capricorn Group in second place with N$ 2.3 million worth of shares traded. The local currency gained 1.59% against the US Dollar, to close at N$ 15.37 per USD, and gained 1.78% against the British Pound, to close at N$ 20.36 per GBP. It closed at N$ 18.24 against the Euro, a gain of 1.2%.

 

 

The Namibia Statistics Agency released the inflation figures for the month of October 2020, and revealed that annual inflation is now 2.3% compared to 3.0% the same time last year, having decreased from the 2.4% recorded for September 2020. The slow growth in the price index was due to declines registered in the price levels of clothing and footwear (0.9% to -6.1%), Housing, water and electricity (1.9% to -1.3%) as well as Transport (1.5% to -1.2%). Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 2.6% compared to 2.5% last month, with Zone 2 (Khomas) seeing inflation of 2.4% compared to 2.6% last month. Zone 3 (Omaheke, Hardap, Karas and Erongo) had inflation of 1.8%, compared to 1.9% last month.

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