During the local market review this week, the NSX Local index experienced a decline of 0.63%, settling at 679.5, while the NSX Overall Index saw an increase of 1.57%, closing at 1599.7 as of November 21, 2023. FirstRand Namibia emerged as the largest local company on the exchange, boasting a market capitalization of N$ 13.4 billion, followed by Capricorn Group at N$ 8.8 billion, Namibia Breweries at N$ 6.6 billion, and Mobile Telecommunications at N$ 5.6 billion. Standard Bank Namibia Holdings demonstrated significant market performance, concluding the week at N$ 8.9 per share, marking a 5.3% growth. Capricorn Group followed with a closing value of N$ 17.01, achieving a growth rate of 3.1%. In terms of trade volume, FirstRand Namibia led with N$ 0.9 million worth of shares traded, while Agra secured second place with N$ 0.4 million worth of shares traded. Regarding currency performance, the local currency depreciated by 2.22% against the US Dollar, closing at N$ 18.62 per USD. Similarly, it experienced a 2.55% loss against the British Pound, settling at N$ 23.34 per GBP. Against the Euro, the currency closed at N$ 20.31, reflecting a depreciation of 2.50%.
In October 2023, the annual inflation rate settled at 6.0%, reflecting a decrease from the 7.1% recorded in October 2022. The principal contributors to this rate were Food and non-alcoholic beverages, which accounted for 1.8 percentage points, followed by Alcoholic beverages and tobacco, as well as Transport, each contributing 1.0 percentage points. Additionally, Housing, water, electricity, gas, and other fuels accounted for 0.8 percentage points of the annual inflation rate. When analyzed by zones, Zone 1 (comprising Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa, and Zambezi regions) recorded the highest annual inflation rate at 6.6%. Zone 2, covering the Khomas region, followed with an annual inflation rate of 5.7%, while Zone 3 (encompassing //Kharas, Erongo, Hardap, Omaheke regions) reported the lowest estimated annual inflation rate at 5.6%.
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