The local market was quiet this week, with the NSX Local index down 0.32% at 465, and the NSX Overall Index down 0.54% at 1461. As at 19 October, FirstRand Namibia was the largest local company on the exchange, with market capitalization of N$ 7.8 billion, followed by Namibia Breweries with N$ 7.1 billion, Capricorn Group with N$ 6.9 billion and Standard Bank Namibia with N$ 3.4 billion. In terms of volume Letshego Holdings lead the market with N$ 517 thousand worth of shares traded, with Capricorn Group in second place with N$ 220 thousand worth of shares traded. The local currency gained 2.86% against the US Dollar, to close at N$ 14.52 per USD, and gained 1.38% against the British Pound, to close at N$ 20.02 per GBP. It closed at N$ 16.89 against the Euro, a gain of 1.95%.
The Namibia Statistics Agency released the inflation figures for the month of September 2021, and revealed that annual inflation is now 3.5% compared to 2.4% the same time last year, having increased from the 3.4% recorded for August 2021. The growth in the price index was due to increases in the prices of Food and non-alcoholic beverages accounting for 0.9% of the increase, as well as Transport accounting for 1.0% of the increase. Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 3.1% compared to 3.1% last month, with Zone 2 (Khomas) seeing inflation of 3.1%, compared to 3.1% last month. Zone 3 (Omaheke, Hardap, Karas and Erongo) had inflation of 4.6%, compared to 4.5% last month.