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.