Egypt Equity Markets | 09 Nov 2015: Bear mood on the EGX, all sector indices in red, market cap US$571 million down …

Cairo, Egypt, Capital Markets in Africa — The Egyptian Exchange equity trading session moved lower for the second successive trading sessions. The market capitalization closed at EGP 439.232 billion after gaining EGP 4.6 billion (US$571 million) relatively to EGP 443.807 billion recorded at the previous trading session. 

The benchmark index EGX30 plunged by 2.58 percent or 194.50 points to end 7,347.22 points. The equal-weighted indexes EGX50 dropped 3.48 percent or 44.23 points to settle at 1,228.16 points (with a year-to-date of -33.10 percent).

EGX70, which measures small and mid-cap index, slumped by 3.43 percent or 13.64 points to settle at 383.69 points. The broader index EGX100 also sagged by 2.67 percent or 22.73 points to 829.79 points and the EGX20 capped index lost 3.51 percent or 256.98 points to close at 7,065.50 points.

From market activity viewpoint, today turnover was recorded at EGP 620.725 million exchanged in 257,824,082 traded securities in 21,087 deals. Local and Arab investors came as net buyers with EGP 50.9 million and EGP 72.6 million respectively, while foreign investors came as net sellers with EGP 123.4 million.

Out of the 171 traded stocks today, there were 19 price gainers and 117 price losers which bring the market breath to end in negative zone. The price movers were Alexandria Containers & Goods jumped by 9.99 percent to close the trading sessions at EGP 301.45 and Egyptian Real Estate Group Bearer Shares soared by  7.42 percent with a closing price of EGP 8.54. South Cairo & Giza Mills & Bakeries surged by 6.47 percent to conclude at EGP 13.17, Abou Kir Fertilizers increased by 3.69 percent to settle at EGP 145.00 and Orascom Development Holding ended at EGP 145 after adding 2.86 percent.

Conversely, Arab Valves Company plunged by 8.60 percent to end at EGP 0.85, Nasr Company for Civil Works sagged by 6.64 percent to trade at EGP 13.07 and Alexandria Flour Mills faltered by 5.98 percent with a closing price of EGP 17.92. Likewise, Saudi Egyptian Investment & Finance and Egyptian for Tourism Resorts lost 5.34 percent and 5.32 percent to trade at EGP 57.22 and EGP 0.89 respectively.

On the final note, Healthcare & Pharmaceutical lost 0.09 percent and Chemical fell by 0.93 percent. Banks sector index dropped 0.2.04 percent or 72.25 points to close at 3,472.46 points, Basic resources sector index went down by 5.92 percent and Food & Beverages sagged by 1.33 percent. Construction & Materials slumped by 4.32 percent and Industrial Goods & Services dipped by 2.99 percent. Travel & Leisure sector index declined by 4.71 percent and Real Estate slid by 2.85 percent. Telecommunications fell by 3.41 percent and Financial Services excluding Banks decreased by 3.58 percent.