Egypt Equity Markets | 11 Nov 2015: Egyptian equity extended losses for the fourth day, shareholder values US$162 million down …

Cairo, Egypt, Capital Markets in Africa — The Egyptian Exchange (EGX) equity extended losses for the fourth day in a row at the end of Wednesday’s trading session. The market capitalization to close at EGP 424.533 billion after losing EGP 1.3 billion (US$162 million) relatively to EGP 425.828 billion recorded at previous trading session. 

The benchmark index EGX30 fell by 0.33 percent or 22.84 points to end 6,801.90 points. Equally, the equal-weighted indexes EGX50 fell by 0.52 percent or 6.01 points to end at 1,146.69 points (with a year-to-date of -36.26 percent).

EGX70, which measures small and mid-cap index, slid by 0.31 percent or 1.13 points to close at 362.29 points. The broader index EGX100 also slumped by 0.46 percent or 3.67 points to end at 786.53 points but the EGX20 capped index added 0.06 percent or 3.82 points to close at 6,567.76 points.

From market activity viewpoint, today turnover was recorded at EGP 571.674 million exchanged in 272,349,536 traded securities in 20,067 deals. Local and Arab investors came as net buyers with EGP 30.8 million and EGP 36.9 million respectively, while foreign investors came as net sellers with EGP 67.7 million.

Out of the 161 traded stocks today, there were 45 price gainers and 69 price losers which bring the market breath to end in negative zone. The price gainers were Reacap Financial Investments added 8.50 percent to end the trading sessions at EGP 2.68 and International Co For Investment & Development advanced by 5.40 percent with closing price of EGP 6.44. Arab Polvara Spinning & Weaving Co surged by 4.89 percent to conclude at EGP 2.36, Assiut Islamic Trading advanced by 4.20 percent to settle at EGP 5.95 and Egyptians Housing Development & Reconstruction closed at EGP 3.40 after adding 3.98 percent.

On the other hand, Suez Cement fell by 6.44 percent to end at EGP 26.17, El Ezz Porcelain lost 5.07 percent to end at EGP 4.12 and Alexandria Containers & Goods slumped by 4.55 percent with a closing price of EGP 307.23. Likewise, El Ahram Company For Printing And Packing and Ismailia National Food Industries fell by 4.40 percent and lost 3.70 percent to close at EGP 6.52 and EGP 4.43 respectively.

On the final note, Healthcare & Pharmaceutical gained 0.02 percent but Chemical fell by 0.14 percent. Banks sector index dropped 0.15 percent or 4.80 points to close at 3,144.81 points, Basic resources sector index dropped 0.15 percent and Food & Beverages sagged by 1.54 percent. Construction & Materials slumped by 2.16 percent and Industrial Goods & Services dipped by 1.82 percent. Travel & Leisure sector index declined by 0.83 percent but Real Estate gained 0.33 percent. Telecommunications rose by 1.26 percent and Financial Services excluding Banks decreased by 0.61 percent.