Egypt Equity Markets | 6 Sep 2015 : Egyptian Exchange ends on negative mood; equities lose US$84 million

CAIRO, Egypt, Capital Markets in Africa — Egyptian Exchange equity trading opened the first trading day on negative, after the equity market capitalization sagged by EGP 655 million (nearly US$ 84 million) to end at EGP 449.721 billion from EGP 450.376 billion recorded at previous day trading session.

The benchmark index EGX30 tumbled by 22.04 points or 0.30 percent to end 7,273.92 points. The equal-weighted indexes EGX50 also went down by 0.93 percent or 11.63 points to settle at 1,237.14 points.

EGX70 index, which measures small and mid-cap index, sagged by 0.93 percent or 3.68 points to settle at 391.17 points.

The broader index EGX100 fell by 0.47 percent or 3.95 points to 842.35 points and the EGX20 capped index slumped by 0.88 percent or 62.98 points to close at 7,063.53 points.

From market activity viewpoint, today turnover was recorded at EGP 310.069 million exchanged in 112.077 million traded securities in 14,301 deals. Egyptian and foreign investors stepped in as net sellers with EGP 5.9 million and EGP 4.5 million respectively while Arabs came out as net buyers with EGP 10.4 billion.

Among the 163 traded stocks today, there were 41 price gainers and 86 price losers which bring the market breath ended negative. The gainers were Upper Egypt Flour Mills soared by 9.90 percent to close the trading sessions at EGP 63.47 and Alexandria Cement rose by 6.76 percent with closing price of EGP 7.74. Egyptian Arabian Securities Brokerage jumped by 6.59 percent to conclude at EGP 0.97. Egyptian Satellites also gained by 6.38 percent to settle at EGP 14.01 and Raya Holding for Technology & Communication rose by 6.11 percent to close at EGP 5.73.

On the other hand, Arabian Cement Company sagged by 5.07 percent to end at EGP 12.91,  Saudi Egyptian Investment & Finance plunged by 4.97 percent to trade at EGP 56.70 and Delta Construction & Rebuilding slumped by 4.32 percent with closing price of EGP 5.98. Likewise, Mansourah Poultry and Mena Touristic & Real Estate Investment slumped by 4.22 percent to end at EGP 16.11 and slumped by 3.88 percent to trade at EGP 1.24 respectively.

On the final note, Basic resources sector index ended at 415.53 points after sagging by 2.41 percent or 10.25 points, Healthcare & Pharmaceutical lost 0.98 points or 0.04 percent and Chemical fell by 0.23 percent. Banks sector index advanced by 0.38 percent or 12.59 points to close at 3,349.65 points, Travel & Leisure sector index plunged 0.83 percent and Food & Beverages slumped by 0.25 percent. Construction & Materials shred off 1.09 percent and Personal & Household sector index surged by 0.15 percent. The Industrial Goods & Services rose by 0.53 percent and Real Estate decreased by 0.49 percent. Telecommunications tumbled by 1.02 percent and Financial Services excluding Banks sagged by 1.87 percent.