Egypt Equity Markets | 09 Mar 2016: Egypt’s bourse benchmark maintains gains, market cap US$192m higher

Cairo, Egypt, Capital Markets in Africa — Egypt Exchange equity trading ended in a positive mood for the fifth session in a row at the end of today’s session, the highest level in two months. The equity market capitalization added nearly EGP 1.5 billion (about US$192 million) to end at EGP 402.892 billion relative to the previous market capitalization of EGP 401.359 billion.  

 The benchmark index EGX30 gained 32.80 points or 0.52 percent to close at 6,372.64 points (year-to-date return of -9.04 percent).  However, the equal-weighted indexes EGX50 fell by 0.67 percent or 8.22 points to trade at 1,211.18 points (a year-to-date performance of  0.89 percent).

EGX70 index, which measures small and mid-cap index, sagged by 0.55 percent or 1.94 points to end at 353.73 points and the broader index EGX100 down by 0.14 percent or 1.05 points to close at 730.15 points, with a -7.64 percent on year-to-date performance. But, the EGX20 capped index edged up by 0.37 percent or 23.68 points to close at 6,352.19 points.

From market activity viewpoint, today turnover was recorded at EGP 531.590 million exchanged in 287,333,742 traded securities in 22,780 deals. Out of the 172 traded stocks today, there were 65 price gainers and 69 price losers which bring the market breath to end in the negative zone. Local and Arab investors came as net buyers with EGP 8.9 million and EGP 12.9 million respectively, while foreign investors  came as net sellers with EGP 21.9 million.

The price gainers were Egyptian Company for Mobile Services (MobiNil) grew by 10.00 percent to end the trading sessions at EGP 110.90 and Alexandria National Company for Financial Investment advanced by 9.96 percent with a closing price of EGP 11.70. Zahraa Maadi Investment & Development gained 9.72 percent to end at EGP 16.25. Modern Shorouk Printing & Packaging also added 8.63 percent to settle at EGP 8.31 and El Kahera El Watania Investment added 7.94 percent to close at EGP 4.08.

On the losers’ zone, Belton Financial Holding dropped 9.84 percent to close at EGP 15.67; Development & Engineering Consultants lost 7.44 percent to end at EGP 8.71 and Nasr Company for Civil Works dipped by 5.67 percent with a closing price of EGP 12.30. Equally, Suez Cement and Misr Hotels sagged by 4.34 percent to end at EGP 15.00 and plunged by 4.29 percent to trade at EGP 20.10 respectively.

On the final note, Healthcare & Pharmaceutical sector index down by  3.17 percent to end at 1,976.74 and Chemical fell by 0.36 percent to close at 613.57. Banks sector index added 1.13 percent or 33.39 points to close at 2,977.88 points and Basic resources sector index advanced  by 1.06 percent to settle at 313.59 points but Food & Beverages declined by 0.04 percent to end at 1,043.87 points. Construction & Materials plunged by 1.86 percent to trade at 958.01 points and Industrial Goods & Services lower by 0.03 percent at 882.29. Travel & Leisure sector index rose by 1.31 percent to end at 157.58 points (-39.37 percent year-to-date return) but Real Estate slumped by 0.35 percent to conclude at 1,066.90 points. Telecommunications rose by 0.69 percent to close at 297.89 points  and Financial Services excluding Banks edged up by 0.48 percent to end at314.58. Personal & Household Products fell by 0.21 percent with a closing level of 692.83 points.