Egypt Equity Markets | 23 Nov 2015: Blood on the Egyptian Exchange trading floor, equity market capitalization drops US$679 million …

Cairo, Egypt, Capital Markets in Africa — Egyptian Exchange equity indices ended in the South Pole and the equity market capitalization dropped EGP 5.3 billion (nearly US$679 million) to end at EGP 418.630 billion relatively to the previous market capitalization of EGP 423.944 billion.  

The benchmark index EGX30 sagged by 156.21 points or 2.36 percent to close at 6,451.32 points. The equal-weighted indexes EGX50 slumped by 1.83 percent or 20.74 points to settle at 1,113.15 points. EGX70 index, which measures small and mid-cap index, slid by 1.80 percent or 6.49 points to end at 353.50 points. The broader index EGX100 fell by 1.40 percent or 10.86 points to 762.48 points and the EGX20 capped index lost 2.29 percent or 148.32 points to close at 6,326.02 points.

From market activity viewpoint, today turnover was recorded at EGP 507.872 million exchanged in 384,035,711 traded securities in 19,828 deals. Local and Arab investors came as net sellers with EGP 3.4 million and EGP 51.6 million respectively while foreign investors came as net buyers with EGP 55 million. Institutions came as net sellers while retail traders were net buyers.

Out of the 165 traded stocks today, there were 19 price gainers and 111 price losers which bring the market breath ended in the negative zone. The price gainers were Sabaa international grew by 7.27 percent to end the trading sessions at EGP 3.54 and Mansourah Poultry advanced by 5.14 percent with a closing price of EGP 12.07. National Bank of Kuwait, Egypt added 4.54 percent to close at EGP 19.57.Ismailia Development & Real Estate also gained 4.44 percent to settle at EGP 4.00 and Natural Gas & Mining surged by 3.16 percent to close at EGP 35.57.

On the other hand, Grand Investment Capital slumped by 8.81 percent to close at EGP 4.35, Orascom Telecom Media fell by 6.06 percent to end at EGP 0.62 and Rowed Tourism dipped by 5.88 percent with a closing price of EGP 4.00. Equally, Samad Misr and Egyptian lower by 5.47 percent to end at EGP 2.42 and slid by 5.31 percent to trade at EGP 3.39 respectively.

On the final note, all the sector indices ended in the red district. Healthcare & Pharmaceutical fell by 3.49 percent and Chemical sagged by 0.09 percent. Banks sector index lost 3.71 percent or 111.15 points to close at 2,885.91 points, Basic resources sector index declined by 1.04 percent and Food & Beverages dipped by 0.37 percent. Construction & Materials dropped 0.55 percent and Industrial Goods & Services plunged by 0.93 percent. Travel & Leisure sector index plummeted by 2.37 percent and Real Estate declined by 1.50 percent. Telecommunications skid by3.60 percent and Financial Services excluding Banks somersaulted by 1.76 percent.