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Market Recap 10 July to 16 July 2019

Market Recap 10 July to 16 July 2019

The local market was quite active this week, with the NSX Local index up 0.38% at 611, and the NSX Overall Index up 1.13% at 1332. As at 16 July, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 10 billion, followed by FirstRand Namibia with N$ 9.3 billion, Trustco Group with N$ 8.9 billion, and Capricorn Investment Group with N$ 8.3 billion. Oryx Properties lead the market this week with growth of 3.33% to close at N$ 20.15 per share. In terms of volume Nimbus Infrastructure lead the market with N$ 968 thousand worth of shares traded, with Capricorn Investment Group in second place with N$ 397 thousand worth of shares traded. The local currency gained 1.61% against the US Dollar, to close at N$ 13.95 per USD, and gained 2.09% against the British Pound, to close at N$ 17.31 per GBP. It closed at N$ 15.64 against the Euro, a gain of 1.57%.

The Namibia Statistics Agency released the inflation figures for the month of June 2019, and revealed that annual inflation is now 3.9% compared to 4% the same time last year, having reduced from the 4.1% recorded for May 2019. Decreases in price were noted in Transport (7.2% to 7.0%), Housing, water and electricity (3.2% to 2.0%), Health (5.4% to 2.6%) and Other goods and services (4.1% to 1.8%). Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 3.5% compared to 4% last year and 3.3% last month, with Zone 2 (Khomas) seeing inflation of 3.7% compared to 3.2% last year and 4.1% last month. Zone 3 (Omaheke, Hardap, Karas and Erongo) had inflation of 4.9%, compared to 5.6% last year and 5.1% last month.

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