Egypt Equity Markets | 10 Nov 2015: Egyptian exchange equity benchmark (EGX30) hits one-and-half month low, market cap US$1.7 billion down

Cairo, Egypt, Capital Markets in Africa — The Egyptian Exchange (EGX) indices headed south on Tuesday amid institutions selling spree, which pushed the market capitalization to close at EGP 425.828 billion after dropping EGP 13.4 billion (US$1.7 billion) relatively to EGP 439.232 billion recorded at previous trading session. 

The benchmark index EGX30 sagged by 4.40 percent or 314.07 points to end 6,824.74 points, its lowers level since 23 August 2015. Equally, the equal-weighted indexes EGX50 dropped 4.22 percent or 50.82 points to settle at 1,152.70 points (with a year-to-date of -35.93 percent).

EGX70, which measures small and mid-cap index, slid by 3.84 percent or 14.53 points to settle at 363.52 points. The broader index EGX100 also sagged by 3.40 percent or 27.81 points to 790.20 points and the EGX20 capped index lost 4.55 percent or 313.09 points to close at 6,563.94 points.

From market activity viewpoint, today turnover was recorded at EGP 538.021 million exchanged in 277,452,974 traded securities in 25,183 deals.

Out of the 174 traded stocks today, there were 10 price gainers and 130 price losers which bring the market breath to end in negative zone. The price gainers were Reacap Financial Investments gained 9.78 percent to close the trading sessions at EGP 2.47 and Alexandria Containers & Goods rose by  6.78 percent with closing price of EGP 321.88. Egyptian Real Estate Group Bearer Shares soared by 5.62 percent to conclude at EGP 9.02, Middle & West Delta Flour Mills advanced by 2.94 percent to settle at EGP 51.48 and El Ahram Co. For Printing & Packing closed at EGP 6.82 after adding 1.64 percent.

On the other hand, Cairo Development & Investment sagged by 6.56 percent to close at EGP 6.56, Advanced Pharmaceutical Packaging slid by 3.58 percent to end at EGP 3.58 and Rubex International for Plastic & Acrylic Manufacturing slumped by 9.36 percent with a closing price of EGP 9.36. Likewise, Egyptian Arabian Securities Brokerage and Pioneers Holding slacked by 0.88 percent and 7.34 percent to end at EGP 0.88 and EGP 7.34 respectively.

On the final note, Healthcare & Pharmaceutical lost 0.15 percent and Chemical fell by 2.60 percent. Banks sector index dropped 5.39 percent or 179.29 points to close at 3,149.61 points, Basic resources sector index went down by 7.33 percent and Food & Beverages sagged by 2.30 percent. Construction & Materials slumped by 1.32 percent and Industrial Goods & Services dipped by 4.47 percent. Travel & Leisure sector index declined by 2.78 percent and Real Estate slid by 4.16 percent. Telecommunications fell by 2.78 percent and Financial Services excluding Banks decreased by 3.95 percent.