In the local market this week, the NSX Local index remained stable at 502.5, and the NSX Overall Index was up 5.24% at 1696.6. As at 15 November 2022, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 9.5 billion, followed by FirstRand Namibia with N$ 8.3 billion, Capricorn Group with N$ 6.7 billion and Mobile Telecommunications with N$ 5.3 billion. Agra lead the market this week, closing at N$ 2.58 per share after growth of 0.8%. In terms of volume Oryx Properties lead the market with N$ 2.3 million worth of shares traded, with Capricorn Group in second place with N$ 0.6 million worth of shares traded. The local currency gained 2.26% against the US Dollar, to close at N$ 17.31 per USD, and lost 0.49% against the British Pound, to close at N$ 20.53 per GBP. It closed at N$ 17.91 against the Euro, a loss of 0.41%.
The Namibia Statistics Agency released the inflation figures for the month of October 2022, and revealed that annual inflation is now 7.1% compared to 3.6% the same time last year, and remained stable from the 7.1% recorded for September 2022. The growth in the price index was due to increases in the prices of Food and non-alcoholic beverages accounting for 1.7% of the increase, as well as Transport accounting for 2.6% of the increase. Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 6.5% compared to 6.6% last month, with Zone 2 (Khomas) seeing inflation of 7.8%, compared to 7.8% last month. Zone 3 (Omaheke, Hardap, Karas and Erongo) had inflation of 6.8%, compared to 6.9% last month.
