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Market Recap 5 May to 11 May 2021

Market Recap 5 May to 11 May 2021

The local market was active this week, with the NSX Local index down 1.75% at 431, and the NSX Overall Index up 7.17% at 1457. As at 11 May, 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$ 6.4 billion and Trustco Group with N$ 3.4 billion. Trustco Group lead the market this week with growth of 24.71% to close at N$ 2.12 per share, with Letshego Holdings Namibia in second place at N$ 1.65 per share after growth of 12.24%. In terms of volume Namibia Breweries lead the market with N$ 2.9 million worth of shares traded, with Stimulus Investments in second place with N$ 371 thousand worth of shares traded. The local currency gained 3.24% against the US Dollar, to close at N$ 13.99 per USD, and gained 1.44% against the British Pound, to close at N$ 19.78 per GBP. It closed at N$ 16.99 against the Euro, a gain of 2.17%.

 

NSX Capricorn FirstRand Breweries Trustco market Letshego Holdings Namibia

 

The Namibia Statistics Agency released the Trade Statistics Bulletin for March 2021, and revealed that trade during the month was higher by 4.4%, with N$ 15.7 billion in trade compared to N$ 13.9 billion in February 2021. This is lower than the N$ 16.5 billion recorded in March 2020. Exports increased by 6.3% to N$ 6.5 billion from N$ 5.7 billion in February, with imports increasing by 3.1% to N$ 9.2 billion from the N$ 8.2 billion in February. As a result, the country recorded a trade deficit of N$ 2.6 billion, widening from the N$ 2.4 billion deficit recorded in February. China was Namibia’s largest export market (23%), while South Africa was Namibia’s largest import market (39.3%). Most export goods left via seaports (55.9%), while 74.3% of imports were done via road.

 

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