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Market Recap 22 June to 28 June 2022

Market Recap 22 June to 28 June 2022

In the local market this week, the NSX Local index was up 0.25% at 487, and the NSX Overall Index was down 2.79% at 1583.4. As at 28 June 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$ 8.2 billion, Capricorn Group Limited with N$ 6.7 billion and Mobile Telecommunications Limited with N$ 5.9 billion. Capricorn Group Limited lead the market this week, closing at N$ 13 per share after growth of 1.6%, with Agra Ltd second, closing at N$ 2.23 after growth of 0.5%. In terms of volume SBN Holdings Ltd lead the market with N$ 4.0 million worth of shares traded, with Capricorn Group Limited in second place with N$ 1.4 million worth of shares traded. The local currency lost 1.02% against the US Dollar, to close at N$ 16.08 per USD, and lost 0.26% against the British Pound, to close at N$ 19.59 per GBP. It closed at N$ 19.59 against the Euro, a loss of 0.96%.

 

The Namibia Statistics Agency released the inflation figures for the month of May 2022, and revealed that annual inflation is now 5.4% compared to 3.8% the same time last year, having increased from the 5.6% recorded for April 2022. The growth in the price index was due to increases in the prices of Food and non-alcoholic beverages accounting for 1.2% of the increase, as well as Transport accounting for 2.4% of the increase. Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 4.8% compared to 5.1% last month, with Zone 2 (Khomas) seeing inflation of 6.3%, compared to 6.3% last month. Zone 3 (Omaheke, Hardap, Karas and Erongo) had inflation of 5.1%, compared to 5.3% last month.

 

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