{"id":356377,"date":"2024-04-04T00:00:00","date_gmt":"2024-04-03T22:00:00","guid":{"rendered":"https:\/\/informante.web.na\/?p=356377"},"modified":"2024-04-04T07:59:54","modified_gmt":"2024-04-04T05:59:54","slug":"market-recap-27-march-to-2-april-2024","status":"publish","type":"post","link":"https:\/\/informante.web.na\/?p=356377","title":{"rendered":"Market Recap 27 March to 2 April 2024"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">This week, the NSX Local index declined by 1.21%, closing at 677.4, while the NSX Overall Index increased by 1.41%, closing at 1539.4. As of April 2, 2024, FirstRand Namibia emerged as the largest local company on the exchange, boasting a market capitalization of N$ 13.3 billion. It was followed by Capricorn Group with N$ 9.1 billion, Namibia Breweries with N$ 6.2 billion, and Mobile Telecommunications with N$ 5.9 billion. Capricorn Group led the market this week, closing at N$ 17.6 per share, reflecting a growth of 0.2%. Letshego Holdings Namibia followed suit, closing at N$ 4.6 after also posting a growth of 0.2%. In terms of trading volume, Capricorn Group led the market with N$ 0.9 million worth of shares traded. Mobile Telecommunications followed with N$ 0.2 million worth of shares traded. On the currency front, the local currency appreciated by 0.13% against the US Dollar, closing at N$ 18.95 per USD. It also gained 0.50% against the British Pound, closing at N$ 23.83 per GBP, and appreciated by 1.59% against the Euro, closing at N$ 20.22.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"613\" height=\"484\" src=\"https:\/\/informante.web.na\/wp-content\/uploads\/2024\/04\/Market-Recap-27-March-to-2-April-2024.png\" alt=\"\" class=\"wp-image-356378\" srcset=\"https:\/\/informante.web.na\/wp-content\/uploads\/2024\/04\/Market-Recap-27-March-to-2-April-2024.png 613w, https:\/\/informante.web.na\/wp-content\/uploads\/2024\/04\/Market-Recap-27-March-to-2-April-2024-300x237.png 300w, https:\/\/informante.web.na\/wp-content\/uploads\/2024\/04\/Market-Recap-27-March-to-2-April-2024-380x300.png 380w, https:\/\/informante.web.na\/wp-content\/uploads\/2024\/04\/Market-Recap-27-March-to-2-April-2024-241x190.png 241w, https:\/\/informante.web.na\/wp-content\/uploads\/2024\/04\/Market-Recap-27-March-to-2-April-2024-133x105.png 133w\" sizes=\"auto, (max-width: 613px) 100vw, 613px\" \/><\/figure>\n<\/div>\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\">Namibia&#8217;s economic growth moderated in 2023 according to the latest Annual National Accounts data released by the Namibia Statistics Agency. The domestic economy expanded by 4.2% in real terms during the year, decelerating from the 5.3% growth recorded in 2022. The slowdown in growth can be attributed to weakening performance in both the Primary and Secondary industry sectors. The Primary industries posted 9.7% growth, down from 13.7% in the prior year. This was driven by weaker diamond demand and high inventory levels that suppressed production. However, the &#8216;Other mining and quarrying&#8217; segment surged 37.2% on the back of new oil exploration discoveries. Additionally, the Uranium subsector rebounded due to elevated energy demand and favourable international pricing. The Secondary industries advanced by a modest 2.0%, compared to 3.4% growth in 2022. This sluggish expansion was largely a result of the Manufacturing sector contracting by 3.2%, following 5.2% growth a year earlier. Compounding matters, the Construction sector posted its eighth consecutive year of contraction amid persistently subdued construction activity levels. A bright spot was the Tertiary industries, which saw growth accelerate to 2.7% for the period under review. This improved performance was broad-based across major subsectors, with the exception of Public Administration and Defence, which faced headwinds from the government&#8217;s fiscal consolidation policy aimed at curbing expenditure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week, the NSX Local index declined by 1.21%, closing at 677.4, while the NSX Overall Index increased by 1.41%, closing at 1539.4. As of April 2, 2024, FirstRand Namibia emerged as the largest local company on the exchange, boasting a market capitalization of N$ 13.3 billion. It was followed by Capricorn Group with N$ &#8230;<\/p>\n","protected":false},"author":4,"featured_media":356378,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,24],"tags":[],"class_list":["post-356377","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Market Recap 27 March to 2 April 2024 - Informant\u00e9<\/title>\n<meta name=\"description\" content=\"This week, the NSX Local index declined by 1.21%, closing at 677.4, while the NSX Overall Index increased by 1.41%, closing at 1539.4.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/informante.web.na\/?p=356377\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Recap 27 March to 2 April 2024 - 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