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Market Recap 2 Mar 2021

Market Recap 2 Mar 2021

The local market was active this week, with the NSX Local index up 0.5% at 418, and the NSX Overall Index up 2.77% at 1370. As at 2 March, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 6.4 billion, followed by FirstRand Namibia with N$ 6.2 billion, Capricorn Group with N$ 5.2 billion and Trustco Group with N$ 3.8 billion. Standard Bank Namibia lead the market this week with growth of 10.46% to close at N$ 7.39 per share, with Namibia Asset Management in second place at N$ 0.63 per share after growth of 1.61%. In terms of volume Standard Bank Namibia again lead the market with N$ 388 thousand worth of shares traded, with FirstRand Namibia in second place with N$ 223 thousand worth of shares traded. The local currency lost 2.72% against the US Dollar, to close at N$ 14.93 per USD, and lost 1.56% against the British Pound, to close at N$ 20.83 per GBP. It closed at N$ 18.05 against the Euro, a loss of 2.21.


Market Recap 2021 local NSX


The Namibia Statistics Agency released the Annual Trade Statistics Bulletin for 2020, and revealed that trade during the year was lower by 3.7%, with N$ 197 billion in trade compared to N$ 204.5 billion in 2019. Exports reduced by 3.8% to N$ 88.7 billion from N$ 92.2 billion in 2019, with imports dropping by 3.5% to N$ 108.3 billion from 112.2 billion in 2019. As a result, the country recorded a trade deficit of N$ 19.6 billion for 2020, an improvement of the N$ 20 billion deficit recorded in 2019. China was Namibia’s largest export market (36%), while South Africa was Namibia’s largest import market (38.1%). Most export goods left via seaports (55%), while 68.2% of imports were done via road.

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