During the past week in the local market, the NSX Local index displayed a positive trend, closing with a gain of 0.84% at 670.3, while the NSX Overall Index experienced a decline of 2.56% to reach 1566.6. As of 11 July 2023, FirstRand Namibia emerged as the largest company on the exchange, boasting a market capitalization of N$ 13.5 billion. It was closely followed by Namibia Breweries and Capricorn Group, both with market capitalizations of N$ 7.6 billion, and Mobile Telecommunications with N$ 5.6 billion. The top performer in the market this week was Mobile Telecommunications, achieving a notable growth of 5.9% and closing at N$ 7.50 per share. FirstRand Namibia secured the second position, closing at N$ 50.4 per share, experiencing marginal growth of 0.02%. In terms of trading volume, Namibia Breweries took the lead with N$ 5.3 million worth of shares traded. Paratus Namibia Holdings occupied the second spot with N$ 0.7 million worth of shares traded. Looking at the currency market, the local currency showed strength against the US Dollar, gaining 0.83% and closing at N$ 18.49 per USD. However, it experienced a decline of 0.89% against the British Pound, settling at N$ 23.91 per GBP. Against the Euro, the local currency closed at N$ 20.35, representing a loss of 0.35%.
According to the latest data, private sector credit (PSCE) in Namibia experienced a decline of N$ 815.2 million or 0.73% month-on-month in May, resulting in a cumulative credit outstanding of N$ 110.8 billion on a normalized basis. A detailed analysis of the data reveals that the decrease in PSCE can be primarily attributed to a significant drop in corporate debt, totalling N$ 1 092.1 million, while individuals received credit of N$ 276.9 million. Furthermore, there was a notable decrease of N$ 574.9 million in other loans and advances, along with a downturn of N$ 433.4 million in overdrafts. However, mortgage loans witnessed a slight decrease of N$ 3.5 million. Only instalment credit saw a rise of N$ 196.7 million during the period.
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