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Market Recap 10 March to 16 March 2021

Market Recap 10 March to 16 March 2021

The local market was remained active this week, with the NSX Local index up 0.27% at 443, and the NSX Overall Index up 0.21% at 1411. As at 16 March, Capricorn Group was the largest local company on the exchange, with market capitalization of N$ 6.7 billion, followed by Namibia Breweries with N$ 6.4 billion, FirstRand Namibia with N$ 6.2 billion and Standard Bank Namibia with N$ 4.2 billion. Capricorn Group again lead the market this week with growth of 2.04% to close at N$ 12.99 per share, with Agra in second place at N$ 1.73 per share after growth of 1.17%. In terms of volume Capricorn Group also lead the market with N$ 4.2 million worth of shares traded, with Oryx Properties in second place with N$ 1.5 million worth of shares traded. The local currency gained 2.67% against the US Dollar, to close at N$ 14.88 per USD, and gained 2.68% against the British Pound, to close at N$ 20.67 per GBP. It closed at N$ 17.71 against the Euro, a gain of 2.66%.

 

Market Recap March 2021 local NSX Local index

 

The Namibia Statistics Agency released the inflation figures for the month of February 2021, and revealed that annual inflation is now 2.7% compared to 2.5% the same time last year, having remained flat from the 2.7% recorded for January 2021. The growth in the price index was due to increases in the prices of Food and non-alcoholic beverages (2.8% to 5.5%), Housing, water, electricity, gas and other fuels (-0.5% to 1.5%), Communication (1.4% to 3.1%), Alcoholic beverages and tobacco (2.7% to 4.2%), Health (2.9% to 3.9%) and Miscellaneous goods and services (6.2% to 6.6%). Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 2.4% compared to 1.7% last month, with Zone 2 (Khomas) seeing inflation of 2.6%, compared to 3.2% last month. Zone 3 (Omaheke, Hardap, Karas and Erongo) had inflation of 3.5%, compared to 3.2% last month.

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