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Market Recap 17 to 23 August 2022

Market Recap 17 to 23 August 2022

In the local market this week, the NSX Local index was up 0.17% at 466.2, and the NSX Overall Index was down 4.03% at 1556.4. As at 23 August 2022, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 8.3 billion, followed by FirstRand Namibia with N$ 8.0 billion, Mobile Telecommunications with N$ 5.6 billion and Capricorn Group with N$ 5.5 billion. Capricorn Group lead the market this week, closing at N$ 10.61 per share after growth of 1.05%, with Standard Bank Namibia Holdings second, closing at N$ 4.4 after growth of 0.7%. In terms of volume Standard Bank Namibia Holdings lead the market with N$ 0.7 million worth of shares traded, with FirstRand Namibia in second place with N$ 0.4 million worth of shares traded. The local currency lost 3.83% against the US Dollar, to close at N$ 16.99 per USD, and lost 1.57% against the British Pound, to close at N$ 20.10 per GBP. It closed at N$ 20.10 against the Euro, a loss of 1.75%.

 

The Namibia Statistics Agency released the inflation figures for the month of July 2022, and revealed that annual inflation is now 6.8% compared to 4.0% the same time last year, having increased from the 6% recorded for June 2022. The growth in the price index was due to increases in the prices of Food and non-alcoholic beverages accounting for 1.5% of the increase, as well as Transport accounting for 3% of the increase. Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 6.2% compared to 5.6% last month, with Zone 2 (Khomas) seeing inflation of 7.7%, compared to 6.7% last month. Zone 3 (Omaheke, Hardap, Karas and Erongo) had inflation of 6.6%, compared to 5.6% last month.

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