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Market Recap 9 Feb 2021

Market Recap 9 Feb 2021

The local market was active this week, with the NSX Local index down 4.98% at 414, and the NSX Overall Index up 5.2% at 1300. As at 9 February, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 6.3 billion, followed by FirstRand Namibia with N$ 6.2 billion, Capricorn Group with N$ 5.2 billion and Trustco Group with N$ 4.6 billion. Oryx Properties lead the market this week with growth of 4.17% to close at N$ 12.50 per share, with FirstRand Namibia in second place at N$ 23.04 per share after growth of 0.04%. In terms of volume Oryx Properties again lead the market with N$ 4.7 million worth of shares traded, with Trustco Group in second place with N$ 1.1 million worth of shares traded. The local currency gained 1.59% against the US Dollar, to close at N$ 14.72 per USD, and gained 0.54% against the British Pound, to close at N$ 20.33 per GBP. It closed at N$ 17.83 against the Euro, a gain of 0.97%.

 

Market Recap local NSX Local index

 

The Namibia Statistics Agency released the Trade Statistics Bulletin for December 2020, and revealed that trade during the month was lower by 19.7%, with N$ 16 billion in trade compared to N$ 17.5 billion in November 2020. This is also lower than the N$ 16.1 billion recorded in December 2019. Exports reduced by 10.7% to N$ 7.8 billion from N$ 8.7 billion in November, with imports dropping by 26.6% to N$ 8.3 billion. As a result, the country recorded a trade deficit of N$ 546 million, an improvement of the N$ 2.6 billion deficit recorded in November. China was Namibia’s largest export market (38.1%), while South Africa was Namibia’s largest import market (47.3%). Most export goods left via seaports (51.6%), while 72.5% of imports were done via road.

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