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Market Recap 13 January to 19 January 2021

Market Recap 13 January to 19 January 2021

The local market was reasonably active this week, with the NSX Local index up 0.02% at 455, and the NSX Overall Index down 1.99% at 1292. As at 19 January, 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$ 5.8 billion. Trustco Group lead the market this week with growth of 9.94% to close at N$ 3.65 per share, with Standard Bank Namibia in second place, growing by 0.87% to close at N$ 6.95 per share. In terms of volume Namibia Breweries lead the market with N$ 3.1 million worth of shares traded, with Trustco Group in second place with N$ 651 thousand worth of shares traded. The local currency gained 1.64% against the US Dollar, to close at N$ 14.96 per USD, and gained 1.92% against the British Pound, to close at N$ 20.39 per GBP. It closed at N$ 18.15 against the Euro, a gain of 2.28%.

 

Market January 2021 local NSX index Trustco Group

 

The Namibia Statistics Agency released the Trade Statistics Bulletin for November 2020, and revealed that trade during the month was lower by 12.8%, with N$ 17.5 billion in trade compared to N$ 20 billion in October 2020. This is also lower than the N$ 19.1 billion recorded in October 2019. Exports rose by 2.3% to N$ 8 billion from N$ 7.8 billion in October, with imports dropping by 22.4% to N$ 9.5 billion. As a result, the country recorded a trade deficit of N$ 2.4 billion, an improvement of the N$ 4.4 billion deficit recorded in October. China was Namibia’s largest export market (41.3%), while South Africa was Namibia’s largest import market (42.4%). Most export goods left via seaports (55.6%), while 80.4% of imports were done via road.

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