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Market Recap review 29 January to 4 February 2020

Market Recap review 29 January to 4 February 2020

The local market was active this week, with the NSX Local index down 0.43% at 604, and the NSX Overall Index down 1.25% at 1235.

 

As at 4 February, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 9.8 billion, followed by FirstRand Namibia with N$ 9 billion, Capricorn Investment Group with N$ 7.8 billion, and Trustco Group with N$ 6.3 billion.

 

Namibia Asset Management lead the market this week with growth of 8.33% to close at N$ 0.65 per share, with FirstRand Namibia in second place with growth of 0.24% to close at N$ 33.49 per share.

 

In terms of volume Standard Bank Namibia lead the market with N$ 5.2 million worth of shares traded, with Namibia Breweries in second place with N$ 3 million worth of shares traded.

 

The local currency lost 1.6% against the US Dollar, to close at N$ 14.78 per USD, and lost 1.58% against the British Pound, to close at N$ 19.26 per GBP. It closed at N$ 16.33 against the Euro, a loss of 1.81%.

 

 

The Bank of Namibia released its Money and Banking Statistics for December 2019, and revealed that growth in private sector credit extension rose during December, standing at 7.2%, a 1.2% increase from the previous month.

 

The higher growth was due to increased borrowings from both households an corporates during the month, with household debt increasing by 7.2% for the month, up from 6.6% in November, and corporates also increasing to 7.2%, up from 5.1% in November.

 

Overdraft credit increased by 3.5%, after a decrease of 3.5% during November, while personal loans and credit cards saw a sharp increase of 20.4% coming from November’s 18.8% increase.

 

Instalment credit continued to decline, recording a smaller contraction of 5.3% compared to the prior month’s 5.7%, with mortgage loans moderating to 5.4%, down from 5.9% the previous month.