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Market Recap 21 April to 27 April 2021

Market Recap 21 April to 27 April 2021

The local market stayed was quiet this week, with the NSX Local index up 0.28% at 444, and the NSX Overall Index up 0.01% at 1366. As at 27 April, Capricorn Group was the largest local company on the exchange, with market capitalization of N$ 7 billion, followed by FirstRand Namibia with N$ 6.6 billion, Namibia Breweries with N$ 6.2 billion and Trustco Group with N$ 3.4 billion. Nictus Holdings Namibia lead the market this week with growth of 10% to close at N$ 1.75 per share, with Agra Ltd in second place at N$ 1.76 per share after growth of 1.73%. In terms of volume Trustco Group lead the market with N$ 221 thousand worth of shares traded, with Agra Ltd in second place with N$ 102 thousand worth of shares traded. The local currency lost 0.52% against the US Dollar, to close at N$ 14.37 per USD, and lost 0.25% against the British Pound, to close at N$ 19.98 per GBP. It closed at N$ 17.38 against the Euro, a loss of 0.99%.


Market Recap Trustco Group FirstRand Namibia First National Breweries Nictus Holdings Agra

The IMF has announced its latest growth projections for the world economy, indicating that economic growth worldwide is expected to be 6% in 2021, before slowing to 4.4% in 2022. This is the result of additional fiscal support in large economies, and is anticipating a vaccine-powered recovery in the last half of the year. There is still a high uncertainty surrounding the recovery, however, as its depends on whether new COVID-19 strains are susceptible to vaccines, and whether they prolong the pandemic. Per the projections, Sub-Saharan Africa can expect economic growth of 3.4% in 2021, and 4% in 2022, with South Africa projected to grow by 3.1% in 2021 and 2% in 2022.

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