The local market was quiet this week, with the NSX Local index down 4% at 437, and the NSX Overall Index down 2.76% at 1249. As at 26 January Capricorn Group was the largest local company on the exchange, with market capitalization of N$ 6.7 billion, followed by Namibia Breweries with N$ 6.3 billion, FirstRand Namibia with N$ 6.2 billion and Trustco Group with N$ 4.8 billion. Standard Bank Namibia lead the market this week with growth of 6.62% to close at N$ 7.41 per share, with Paratus Namibia in second place, growing by 2.26% to close at N$ 11.75 per share. In terms of volume Trustco Group lead the market with N$ 213 thousand worth of shares traded, with FirstRand Namibia in second place with N$ 81 thousand worth of shares traded. The local currency lost 0.61% against the US Dollar, to close at N$ 15.06 per USD, and lost 1.42% against the British Pound, to close at N$ 20.68 per GBP. It closed at N$ 18.31 against the Euro, a loss of 0.88%.
The Namibia Statistics Agency released the inflation figures for the month of December 2020, and revealed that annual inflation is now 2.4% compared to 2.6% the same time last year, having decreased from the 2.2% recorded for November 2020. The slow growth in the price index was due to declines registered in the price levels of clothing and footwear (0.5% to -6.0%), housing, water, electricity, gas and other fuels (1.9% to -1.3%) and transport (2.0% to -1.3%). Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 2.3% compared to 2.0% 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 2.3%, compared to 2.1% last month.