{"id":364705,"date":"2024-10-22T01:00:00","date_gmt":"2024-10-21T23:00:00","guid":{"rendered":"https:\/\/informante.web.na\/?p=364705"},"modified":"2024-10-22T07:37:48","modified_gmt":"2024-10-22T05:37:48","slug":"market-recap-14-to-20-october-2024","status":"publish","type":"post","link":"https:\/\/informante.web.na\/?p=364705","title":{"rendered":"Market Recap 14 to 20 October 2024"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The Namibian Stock Exchange (NSX) posted positive gains this week, with the NSX Local index rising 0.26% to 685.5, while the NSX Overall Index showed more substantial growth of 1.65%, closing at 1885.6. FirstRand Namibia maintained its position as the market leader as of 20 October 2024, with a market capitalization of N$12.5 billion, followed by Capricorn Group at N$10.2 billion, Namibia Breweries at N$6.0 billion, and Mobile Telecommunications at N$5.7 billion. Letshego Holdings Namibia emerged as the week&#8217;s standout performer, with a remarkable 6.4% increase to close at N$5 per share, while Standard Bank Namibia Holdings recorded a more modest gain of 0.7%, ending at N$9.02. Trading activity was notably high for Mobile Telecommunications, which led the volume charts with N$6.0 million worth of shares traded, followed by Standard Bank Namibia Holdings with N$2.5 million. The Namibian Dollar showed weakness against major currencies, declining 0.64% against the US Dollar to N$17.51, 0.53% against the British Pound to N$22.85, and marginally by 0.08% against the Euro to close at N$19.04.<\/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\/10\/Market-Recap-14-to-20-October-2024.png\" alt=\"\" class=\"wp-image-364706\" srcset=\"https:\/\/informante.web.na\/wp-content\/uploads\/2024\/10\/Market-Recap-14-to-20-October-2024.png 613w, https:\/\/informante.web.na\/wp-content\/uploads\/2024\/10\/Market-Recap-14-to-20-October-2024-300x237.png 300w, https:\/\/informante.web.na\/wp-content\/uploads\/2024\/10\/Market-Recap-14-to-20-October-2024-380x300.png 380w, https:\/\/informante.web.na\/wp-content\/uploads\/2024\/10\/Market-Recap-14-to-20-October-2024-241x190.png 241w, https:\/\/informante.web.na\/wp-content\/uploads\/2024\/10\/Market-Recap-14-to-20-October-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\">The Bank of Namibia&#8217;s Monetary Policy Committee has taken a decisive step by cutting the repo rate by 25 basis points to 7.25 percent during its fifth bi-monthly meeting of 2024. This unanimous decision comes amid a complex economic landscape where domestic activity showed growth in the first eight months of 2024, despite losing momentum in the second quarter. The economy recorded a slower growth rate of 3.5 percent during Q2 2024, down from 4.3 percent in the previous quarter. Looking ahead, growth projections have been moderated to 3.1 percent for 2024 and 3.9 percent for 2025, primarily due to weakening primary industry performance and ongoing drought conditions. On the inflation front, there&#8217;s been significant improvement, with the rate falling to 3.4 percent in September 2024 &#8211; the lowest since August 2021. The medium-term inflation forecast has been revised downward to 4.3 percent for 2024 and 4.0 percent for 2025, supported by favourable oil price outlooks and a stronger exchange rate. However, challenges remain as the country&#8217;s merchandise trade deficit widened to N$25.8 billion in the first eight months of 2024, up from N$21.2 billion in the same period last year. While international reserves declined to N$57.1 billion by September&#8217;s end, they still provide 3.9 months of import cover, maintaining sufficient backing for the currency peg with the South African Rand.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Namibian Stock Exchange (NSX) posted positive gains this week, with the NSX Local index rising 0.26% to 685.5, while the NSX Overall Index showed more substantial growth of 1.65%, closing at 1885.6. FirstRand Namibia maintained its position as the market leader as of 20 October 2024, with a market capitalization of N$12.5 billion, followed &#8230;<\/p>\n","protected":false},"author":4,"featured_media":364706,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,24],"tags":[],"class_list":["post-364705","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 v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Market Recap 14 to 20 October 2024 - Informant\u00e9<\/title>\n<meta name=\"description\" content=\"The Namibian Stock Exchange (NSX) posted positive gains this week, with the NSX Local index rising 0.26% to 685.5...\" \/>\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=364705\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Recap 14 to 20 October 2024 - 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