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Market Recap 13 to 19 October 2021

Market Recap 13 to 19 October 2021

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%.

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 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.

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