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Market Recap 13 April to 19 April 2022

Market Recap 13 April to 19 April 2022

In the local market this week, the NSX Local index was down 0.97% at 478.1, and the NSX Overall Index was up 0.34% at 1837.2. As at 19 April 2022, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 8.3 billion, followed by FirstRand Namibia Limited with N$ 8.1 billion, Capricorn Group Limited with N$ 6.9 billion and Mobile Telecommunications Limited with N$ 5.6 billion. FirstRand Namibia Limited lead the market this week, closing at N$ 30.05 per share after growth of 1.8%, with Agra Ltd second, closing at N$ 2.11 after growth of 0.5%. In terms of volume Capricorn Group Limited lead the market with N$ 38.0 million worth of shares traded, with SBN Holdings Ltd in second place with N$ 3.4 million worth of shares traded. The local currency lost 2.94% against the US Dollar, to close at N$ 14.94 per USD, and lost 2.97% against the British Pound, to close at N$ 19.42 per GBP. It closed at N$ 19.42 against the Euro, a loss of 2.56%.

 

The Namibia Statistics Agency released the inflation figures for the month of March 2022, and revealed that annual inflation is now 4.5% compared to 3.1% the same time last year, having remained stable from the 4.5% recorded for February 2022. 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 1.9% of the increase. Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 3.8% compared to 3.9% last month, with Zone 2 (Khomas) seeing inflation of 5.3%, compared to 5.3% last month. Zone 3 (Omaheke, Hardap, Karas and Erongo) had inflation of 4.4%, compared to 4.1% last month.

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