Egypt Equity Markets | 24 Nov 2015: Bear torments the EGX’s equity traders, with loses across the main sectors …

Cairo, Egypt, Capital Markets in Africa —– The bearish sentiment persisted on the Egypt Exchange equity indices ended at the end Tuesday’s trading session. The equity market capitalization further dropped EGP 5.2 billion (about US$667 million) to end at EGP 413.425 billion relatively to the previous market capitalization of EGP 418.630 billion.  

The benchmark index EGX30 dropped 129.93 points or 2.01 percent to close at 6,321 points. The equal-weighted indexes EGX50 dipped by 1.81 percent or 20.14 points to trade at 1,093.01 points. EGX70 index, which measures small and mid-cap index, plunged by 0.97 percent or 3.42 points to end at 350.80 points. The broader index EGX100 fell by 1.79 percent or 13.65 points to close at 748.83 points and the EGX20 capped index slid by 1.92 percent or 121.54 points to close at 6,204.48 points.

From market activity viewpoint, today turnover was recorded at EGP 339.237 million exchanged in 216,133,961 traded securities in 14,747 deals. Local and foreign investors came as net sellers with EGP 20 million and EGP 1.8 million respectively while Arab investors came as net buyers with EGP 21.8 million.

Out of the 157 traded stocks today, there were 23 price gainers and 108 price losers which bring the market breath ended in the negative zone. The price gainers were Sabaa international gained 7.91 percent to end the trading sessions at EGP 3.82 and Mansourah Poultry advanced by 7.79 percent with a closing price of EGP 13.01. South Cairo & Giza Mill rose by 2.11 percent to end at EGP 2.11. Alexandria Containers & Goods also added 2.10 percent to settle at EGP 311.69 and Gulf Canadian Real Estate Investment Company soared by 2.02 percent to close at EGP 7.08.

On the other hand, Torah Cement slumped by 9.92 percent to close at EGP 12.72; Misr Chemical Industries sagged by 9.73 percent to end at EGP 4.08 and El Ahram Company For Printing & Packing dipped by 8.00 percent with a closing price of EGP 8.00. Equally, Egyptian Media Production City and Rakta Paper Manufacturing lost 7.57 percent to end at EGP 2.32 and slid by 7.53 percent to trade at EGP 3.07 respectively.

On the final note, all the sector indices ended in the red district. Healthcare & Pharmaceutical fell by 0.01 percent and Chemical sagged by 0.51 percent. Banks sector index lost 2.16 percent or 62.29 points to close at 2,823.62 points, Basic resources sector index declined by 3.33 percent and Food & Beverages dipped by 0.30 percent. Construction & Materials dropped 2.39 percent and Industrial Goods & Services plunged by 0.78 percent. Travel & Leisure sector index plummeted by 1.93 percent and Real Estate declined by 1.01 percent. Telecommunications skid by3.29 percent and Financial Services excluding Banks somersaulted by 1.97 percent.