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Market Recap 25 Nov to 1 Dec 2020

Market Recap 25 Nov to 1 Dec 2020

The local market was quiet this week, with the NSX Local index flat at 468, and the NSX Overall Index down 2.85% at 1165. As at 1 December, 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, Trustco Group with N$ 6.4 billion, and FirstRand Namibia with N$ 6.2 billion. Trustco Group lead the market this week with growth of 33.78% to close at N$ 4.00 per share. In terms of volume Namibia Breweries lead the market with N$ 29.5 million worth of shares traded, with Trustco Group in second place with N$ 284 thousand worth of shares traded. The local currency lost 0.47% against the US Dollar, to close at N$ 15.25 per USD, and lost 0.89% against the British Pound, to close at N$ 20.46 per GBP. It closed at N$ 18.41 against the Euro, a loss of 2%.

 

local market week NSX Local index Overall December

 

The Bank of Namibia released its Money and Banking Statistics for October 2020, and revealed that growth in private sector credit extension decreased during the month, standing at 1.4%, a 0.4% decrease from the previous month. The slow growth was caused by decreased borrowings from households during the month, with household debt increasing by 4.2% for the month, down from 5% in September, and by corporate credit contracting by 2.2%, the same as in September. Overdraft credit grew by 2.8%, down from the 3.8% growth during September, and while Instalment credit contracted by 9.7%, mortgage loans grew at 1.3%, the same as the previous month.

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