{"id":358191,"date":"2024-05-24T00:00:00","date_gmt":"2024-05-23T22:00:00","guid":{"rendered":"https:\/\/informante.web.na\/?p=358191"},"modified":"2024-05-23T17:17:13","modified_gmt":"2024-05-23T15:17:13","slug":"market-recap-16-to-22-may-2024","status":"publish","type":"post","link":"https:\/\/informante.web.na\/?p=358191","title":{"rendered":"Market Recap 16 to 22 May 2024"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">In the local market&nbsp;this week, the NSX Local Index decreased by 0.24% to 674.6, while the NSX Overall Index increased by 1.69% to 1761.9.&nbsp;As of 22 May 2024, FirstRand Namibia was the&nbsp;largest&nbsp;local company on the exchange with a market capitalization of N$ 12.7 billion, followed by Capricorn Group with N$ 9.6 billion, Namibia Breweries with N$ 6.2 billion, and Mobile Telecommunications with N$ 5.7 billion. Trustco Group Holdings led the market this week, closing at N$ 0.3 per share after a 30.4% increase, with Mobile Telecommunications in second place, closing at N$ 7.63 per share after a 0.4% increase.&nbsp;In terms of&nbsp;trading volume, Namibia Breweries led the market with N$ 1.4 million worth of shares traded, followed closely by Capricorn Group with N$ 1.4 million worth of shares traded. The local currency depreciated by 0.04% against the US Dollar, closing at N$ 18.28 per USD, and depreciated by 0.26% against the British Pound, closing at N$ 23.24 per GBP. It appreciated by 0.52% against the Euro, closing at N$ 19.78 per EUR.<\/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\/05\/Market-Recap-16-to-22-May-2024.png\" alt=\"\" class=\"wp-image-358192\" srcset=\"https:\/\/informante.web.na\/wp-content\/uploads\/2024\/05\/Market-Recap-16-to-22-May-2024.png 613w, https:\/\/informante.web.na\/wp-content\/uploads\/2024\/05\/Market-Recap-16-to-22-May-2024-300x237.png 300w, https:\/\/informante.web.na\/wp-content\/uploads\/2024\/05\/Market-Recap-16-to-22-May-2024-380x300.png 380w, https:\/\/informante.web.na\/wp-content\/uploads\/2024\/05\/Market-Recap-16-to-22-May-2024-241x190.png 241w, https:\/\/informante.web.na\/wp-content\/uploads\/2024\/05\/Market-Recap-16-to-22-May-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\">In March 2024, private sector credit extension (PSCE)&nbsp;in Namibia&nbsp;experienced a marginal decline of 0.42% month-on-month, leading to an annual growth rate of 1.30%, the lowest since December 2021.&nbsp;The&nbsp;total&nbsp;normalized outstanding credit amounted to N$112.7 billion after adjusting for interbank swaps. During March, the private sector repaid N$478.5 million in debt, with&nbsp;both&nbsp;businesses and households contributing to this repayment. Over the past year,&nbsp;N$1.44 billion was extended&nbsp;in credit to the private sector, a significant decrease of 65.7% compared to the N$4.21 billion issued in the preceding year. This reduction in credit extension was driven primarily by a substantial decrease in business credit demand, which fell by 97.0%, and a notable decline in household credit demand, which decreased by 57.9%. The annual growth rate in credit to corporates was nearly stagnant at 0.06%, with the total credit held by businesses&nbsp;standing&nbsp;at N$45.8 billion at the end of March. Instalment and leasing credit were the primary contributors to this modest growth, while mortgage loans and overdrafts negatively impacted overall corporate credit growth. For individuals, credit grew by 2.17% year-on-year, with mortgage loans, overdrafts, and instalment credit contributing positively, although other loans and advances had a slight negative impact.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the local market&nbsp;this week, the NSX Local Index decreased by 0.24% to 674.6, while the NSX Overall Index increased by 1.69% to 1761.9.&nbsp;As of 22 May 2024, FirstRand Namibia was the&nbsp;largest&nbsp;local company on the exchange with a market capitalization of N$ 12.7 billion, followed by Capricorn Group with N$ 9.6 billion, Namibia Breweries with &#8230;<\/p>\n","protected":false},"author":4,"featured_media":358192,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,24],"tags":[],"class_list":["post-358191","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 v28.8 - 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