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Market Recap 16 Oct to 22 Oct 2019

Market Recap 16 Oct to 22 Oct 2019

The local market remained quiet this week, with the NSX Local index down 0.6% at 617, and the NSX Overall Index up 2.06% at 1323.


As at 22 October, Trustco Group was the largest local company on the exchange, with market capitalization of N$ 10.9 billion, followed by Namibia Breweries with N$ 10 billion, FirstRand Namibia with N$ 8.9 billion, and Capricorn Investment Group with N$ 8 billion.


In terms of volume Namibia Breweries lead the market with N$ 1.1 million worth of shares traded, with Capricorn Investment Group and FirstRand Namibia both in second place with N$ 808 thousand worth of shares traded.


The local currency gained 1.96% against the US Dollar, to close at N$ 14.59 per USD, and gained 1.21% against the British Pound, to close at N$ 18.80 per GBP. It closed at N$ 16.24 against the Euro, a gain of 1.11%.

Nimbus Infrastructure Limited has announced that its change of name was approved by a majority of shareholders at their AGM on 25 September 2019.


Per the resolution, Nimbus Infrastructure Limited will henceforth be known as Paratus Namibia Holdings Limited. As such, the change of name has been registered with the Registrar of Companies, and the last day to trade under its old NSX code of NUSP will be 1 November 2019.


From 4 November 2019, the share will trade under the code PNH. All existing share certificates will remain valid and does not have to be traded in, with all certificates issued after 4 November bearing the new name.

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