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Market Recap 16 Feb 2021

Market Recap 16 Feb 2021

The local market was active this week, with the NSX Local index down 1.01% at 412, and the NSX Overall Index up 3.61% at 1348. As at 9 February, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 6.2 billion, followed by FirstRand Namibia with N$ 6.1 billion, Capricorn Group with N$ 5.2 billion and Trustco Group with N$ 4.2 billion. Agra Ltd lead the market this week with growth of 1.18% to close at N$ 1.71 per share, with Capricorn Group in second place at N$ 10.10 per share after growth of 1%. In terms of volume FirstRand Namibia lead the market with N$ 1.5 million worth of shares traded, with Namibia Breweries in second place with N$ 1 million worth of shares traded. The local currency gained 0.46% against the US Dollar, to close at N$ 14.65 per USD, and lost 0.15% against the British Pound, to close at N$ 20.36 per GBP. It closed at N$ 17.74 against the Euro, a gain of 0.55%.

 

Market Recap local NSX Namibia Breweries FirstRand Namibia Capricorn Group FirstRand

 

The Namibia Statistics Agency released the inflation figures for the month of January 2021, and revealed that annual inflation is now 2.7% compared to 2.1% the same time last year, having increased from the 2.4% recorded for December 2020. The growth in the price index was due to increases in the prices of communications (0.7% to 4.1%), food and non-alcoholic beverages (2.2% to 5.2%), alcoholic beverages and tobacco (2.6% to 5.0%), furnishings and household equipment (2.9% to 4.1%), recreation and culture (4.3% to 4.9%) and health costs (3.1% to 3.7%). Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 1.7% compared to 2.3% last month, with Zone 2 (Khomas) seeing inflation of 3.2%, compared to 2.4% last month. Zone 3 (Omaheke, Hardap, Karas and Erongo) had inflation of 3.2%, compared to 2.3% last month.

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