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Market Recap 14 to 20 September 2022

Market Recap 14 to 20 September 2022

In the local market this week, the NSX Local index was up 0.19% at 473.5, and the NSX Overall Index was down 2.88% at 1499.1. As at 20 September 2022, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 8.8 billion, followed by FirstRand Namibia with N$ 8.2 billion, Capricorn Group with N$ 5.6 billion and Mobile Telecommunications with N$ 5.3 billion. FirstRand Namibia lead the market this week, closing at N$ 30.52 per share after growth of 1.1%, with Agra second, closing at N$ 2.52 after growth of 0.4%. In terms of volume Stimulus Investments lead the market with N$ 4.1 million worth of shares traded, with Oryx Properties in second place with N$ 3.2 million worth of shares traded. The local currency lost 1.35% against the US Dollar, to close at N$ 17.68 per USD, and lost 0.40% against the British Pound, to close at N$ 20.12 per GBP. It closed at N$ 17.62 against the Euro, a loss of 1.36%.

 

The Namibia Statistics Agency released the inflation figures for the month of August 2022, and revealed that annual inflation is now 7.3% compared to 3.4% the same time last year, having increased from the 6.8% recorded for July 2022. The growth in the price index was due to increases in the prices of Food and non-alcoholic beverages accounting for 1.6% of the increase, as well as Transport accounting for 3.3% of the increase. Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 6.8% compared to 6.2% last month, with Zone 2 (Khomas) seeing inflation of 7.9%, compared to 7.7% last month. Zone 3 (Omaheke, Hardap, Karas and Erongo) had inflation of 7.2%, compared to 6.6% last month.

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