The local market was quiet this week, with the NSX Local index down 0.11% at 632, and the NSX Overall Index down 1.86% at 1353. As at 14 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$ 7.8 billion. Trustco Group lead the market this week with growth of 2.7% to close at N$ 8.00 per share, with Capricorn Investment Group in second place, closing at N$ 16.05 per share after growth of 0.12%. In terms of volume Capricorn Investment Group lead the market with N$ 380 thousand worth of shares traded, with Trustco Group in second place with N$ 267 thousand worth of shares traded. The local currency gained 1.37% against the US Dollar, to close at N$ 14.24 per USD, and gained 2.65% against the British Pound, to close at N$ 18.38 per GBP. It closed at N$ 15.96 against the Euro, a gain of 1.26%.
The Namibia Statistics Agency released the inflation figures for the month of April 2019, and revealed that annual inflation is now 4.5% compared to 3.6% the same time last year, having stabilized from the 4.5% recorded for March 2019. Increases in price were noted in all baskets except Health (5.6% to 2.5%), Miscellaneous goods and services (4.4% to 2.2%), Housing, water & electricity and fuels, (3.4% to 2.2%) and Furnishing, household equipment and maintenance (1.1% to 1.0%). Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 3.8% compared to 3.7% last year, with Zone 2 (Khomas) seeing inflation of 5% compared to 3% last year. Zone 3 (Omaheke, Hardap, Karas and Erongo) had inflation of 4.8%, which was the same as last year.