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Market Recap 14 July to 20 July 2021

Market Recap 14 July to 20 July 2021

The local market was quiet this week, with the NSX Local index up 0.27% at 448, and the NSX Overall Index down 4.86% at 1321. As at 20 July, FirstRand Namibia was the largest local company on the exchange, with market capitalization of N$ 7.3 billion, followed by Capricorn Group with N$ 6.7 billion, Namibia Breweries with N$ 6.6 billion and Standard Bank Namibia with N$ 3.4 billion. Namibia Breweries lead the market this week with growth of 0.79% to close at N$ 32.01 per share, with FirstRand Namibia in second place at N$ 27.34 per share after growth of 0.04%. In terms of volume FirstRand Namibia lead the market with N$ 246 thousand worth of shares traded, with Namibia Breweries in second place with N$ 168 thousand worth of shares traded. The local currency gained 0.84% against the US Dollar, to close at N$ 14.61 per USD, and gained 2.21% against the British Pound, to close at N$ 19.90 per GBP. It closed at N$ 17.21 against the Euro, a gain of 0.8%.

 

 

The Namibia Statistics Agency released the inflation figures for the month of June 2021, and revealed that annual inflation is now 4.1% compared to 2.1% the same time last year, having increased from the 3.8% recorded for May 2021. The growth in the price index was due to increases in the prices of Food and non-alcoholic beverages increasing by 7.3% (1.3%) which accounts for 16.5% of the inflation basket, as well as Transport increasing by 9.6% (1.3%), which accounts for 14.3% of the basket. Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 3.9% compared to 3.7% last month, with Zone 2 (Khomas) seeing inflation of 3.7%, compared to 3.4% last month. Zone 3 (Omaheke, Hardap, Karas and Erongo) had inflation of 4.9%, compared to 4.4% last month.

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