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Market Recap 12 July to 19 July 2022

Market Recap 12 July to 19 July 2022

In the local market this week, the NSX Local index was down 3.41% at 469.7, and the NSX Overall Index was up 0.41% at 1479.5. As at 19 July 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$ 5.7 billion and Mobile Telecommunications Limited with N$ 5.6 billion. Letshego Holdings – Nam lead the market this week, closing at N$ 2.65 per share after growth of 12.8%, with Agra Ltd second, closing at N$ 2.3 after growth of 3.1%. In terms of volume Namibia Breweries lead the market with N$ 10.6 million worth of shares traded, with Letshego Holdings Namibia in second place with N$ 5.3 million worth of shares traded. The local currency lost 0.41% against the US Dollar, to close at N$ 17.07 per USD, and lost 1.34% against the British Pound, to close at N$ 20.47 per GBP. It closed at N$ 20.47 against the Euro, a loss of 2.30%.

The Namibia Statistics Agency released the inflation figures for the month of May 2022, and revealed that annual inflation is now 6% compared to 4.1% the same time last year, having increased from the 5.4% recorded for May 2022. The growth in the price index was due to increases in the prices of Food and non-alcoholic beverages accounting for 1.3% of the increase, as well as Transport accounting for 2.7% of the increase. Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 5.6% compared to 4.8% last month, with Zone 2 (Khomas) seeing inflation of 6.7%, compared to 6.3% last month. Zone 3 (Omaheke, Hardap, Karas and Erongo) had inflation of 5.6%, compared to 5.1% last month.

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