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Weekly market review 11 March to 17 March 2020

Weekly market review 11 March to 17 March 2020

The local market was active this week, with the NSX Local index down 1.64% at 586, and the NSX Overall Index down 18.10% at 893. As at 18 March, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 9.3 billion, followed by FirstRand Namibia with N$ 8.9 billion, Capricorn Investment Group with N$ 8 billion, and Standard Bank Holdings Namibia with N$ 4.4 billion. In terms of volume Standard Bank Holdings lead the market with N$ 20.9 million worth of shares traded, with Namibia Breweries in second place with N$ 1.6 million worth of shares traded. The local currency lost 3.82% against the US Dollar, to close at N$ 16.55 per USD, and gained 2.58% against the British Pound, to close at N$ 20.05 per GBP. It closed at N$ 18.24 against the Euro, a loss of 1.41%.

 

NSX Overall Index market local

The Namibia Statistics Agency released the inflation figures for the month of February 2020, and revealed that annual inflation is now 2.5% compared to 4.4% the same time last year, having reduced from the 2.1% recorded for January 2020. Decreases in price were due to Housing, water, electricity, gas and other fuels (-0.5% from 1.9%) which accounts for 28.4 percent of the overall NCPI basket, as well as Food and non-alcoholic beverages (2.8% from 5.9%) which accounts for 16.5 percent of the overall NCPI basket. Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 2.8% compared to 2.7% last month, with Zone 2 (Khomas) seeing inflation of 2.1% compared to 1.0% last month. Zone 3 (Omaheke, Hardap, Karas and Erongo) had inflation of 2.5%, compared to 2.7% last month.