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Market Recap 1 May – 7 May 2019

Market Recap 1 May – 7 May 2019

The local market was active this week, with the NSX Local index up 0.59% at 633, and the NSX Overall Index up 2.05% at 1393. As at 7 May, FirstRand Namibia was the largest local company on the exchange, with market capitalization of N$ 10.8 billion, followed by Namibia Breweries with N$ 10 billion, Capricorn Investment Group with N$ 8.3 billion, and Trustco Group with N$ 7.6 billion. Namibia Breweries lead the market this week with growth of 1.04% to close at N$ 48.50 per share, with FirstRand Namibia in second place, closing at N$ 40.35 per share after growth of 0.88%. In terms of volume Namibia Breweries lead the market with N$ 3.9 million worth of shares traded, with Trustco Group in second place with N$ 1.5 million worth of shares traded. The local currency lost 0.78% against the US Dollar, to close at N$ 14.44 per USD, and lost 1.02% against the British Pound, to close at N$ 18.87 per GBP. It closed at N$ 16.16 against the Euro, a loss of 0.55%.

BoN has released their Financial Stability report for April 2019, and have revealed that the ratio of household indebtedness to disposable income moderated in 2018. While household debt has increased by 7% in 2018, from 6.7% in 2017, disposable income increased by 8.5% in 2018, compared to 4.2% in 2017. Corporate sector debt reached N$ 126.4 billion, an increase of 12.2% compared to 2017, but BoN notes that this debt is directed towards increasing production, which enhances financial stability.

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