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Market Recap 23 to 29 June 2021

Market Recap 23 to 29 June 2021

The local market was a relatively active this week, with the NSX Local index up 1.19% at 444, and the NSX Overall Index up 3.13% at 1390. As at 29 June, FirstRand Namibia was the largest local company on the exchange, with market capitalization of N$ 7.2 billion, followed by Capricorn Group with N$ 6.7 billion, Namibia Breweries with N$ 6.5 billion and Standard Bank Namibia with N$ 3.4 billion. Trustco Group lead the market this week with growth of 14.88% to close at N$ 1.93 per share, with FirstRand Namibia in second place at N$ 27.20 per share after growth of 7.77%. In terms of volume FirstRand Namibia lead the market with N$4 million worth of shares traded, with Trustco Group in second place with N$ 227 thousand worth of shares traded. The local currency lost 0.65% against the US Dollar, to close at N$ 14.35 per USD, and gained 0.15% against the British Pound, to close at N$ 19.86 per GBP. It closed at N$ 17.06 against the Euro, a loss of 0.23%.


Market Recap Capricorn FirstRand Breweries Trustco Group Oryx Properties Asset Management FirstRand Namibia US Dollar USD British Pound GBP Euro


The Namibia Statistics Agency released the first quarter GDP figures for Namibia, and revealed that the economy contracted a further 6.5% during the first quarter, compared with a 2.5% contraction for the same period last year. The contraction was lead by the Construction sector, which contracted by 23.9%, with the Manufacturing Sector close behind with a 22.3% contraction. Mining (-19%), Financial services (-13.8%), Hotels and Restaurants (-12%), Transport (-8.7%) and the Wholesale and Retail (-8.2%) sectors also all posted contractions. The only significant positive sectoral performance could be found in Information and Communication sector, showing growth of 17.6%, as well as the Health (12.8%) and Electricity and Water (7.7%) sectors. In terms of real GDP, the economy shrunk by N$2.2 billion during the quarter.


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