Egypt Equity Watch | 17 Aug 2015 : Egyptian Exchange equities extend bear run to second day …

Cairo, Egypt (Capital Markets in Africa):- The downtrend persisted on the Egyptian Exchange for second consecutive sessions.  The market capitalization ended at EGP 468.5 billion after shedding EGP 5.7 billion (US$730 million); relative to EGP 473.2 billion recorded at previous day trading session.

The benchmark index EGX30 slid by 0.42 percent or 31.71 points to end 7,594.05 points, extending its southward movement for the second trading session in a row, which it hit one-month low. However, the equal-weighted indexes EGX50 surged by 0.23 percent or 3.05 points to settle at 1,348.27 points.

EGX70, which measures small and mid-cap index, marginally fell by 0.20 percent or 0.10 points to settle at 428.51 points (-24.22 percent year-to-date return).

The broader index EGX100 also tumbled by 0.62 percent or 5.60 points to 895.40 points (-17.88 percent year to date performance) and the EGX20 capped index slightly went down by 0.02 percent or 1.66 points to close at 7,817.75 points (-24.79 percent year-to-date return).

From market activity viewpoint, today turnover was recorded at EGP 453.477 million exchanged in 200.113 million traded securities in 19,373 deals.  In term of investor type, local and Arab investors stepped in as net buyers with EGP 56.9 million and EGP 2.1 million respectively, while foreign investors came out as net sellers with EGP 58.9 million. Retail trades came in as net buyers with EGP 8.7 million, while institutions came out as net sellers with EGP 59.3 million.

There were 69 price gainers and 58 price losers which bring the market breath ended positive. The price movers were Orascom Development Holdings gained 9.59 percent to close the trading sessions at EGP 5.03 and Egyptian for Tourism, Resorts advanced by 5.83 percent with closing price of EGP 1.09. El Nasr Transformers climbed by 5.57 percent to conclude at EGP 5.88, El Ahli Investment & Development increased by 4.86percent to settle at EGP 6.91 and Qatar National Bank Alahly ended at EGP 35.00 after adding 4.48 percent.

Conversely, Orascom Construction Industries sagged by 9.98 percent to end at EGP 255.84, Modern Shorouk Printing & Packaging plummeted by 9.88 percent to trade at EGP 9.49 and Pyramisa Hotels tumbled by 9.74 percent with closing price of EGP 20.29. Likewise, Naeem Holdings and El Arabia slid by 7.50 percent and 7.04 percent to trade at EGP 0.37 and EGP 8.05 respectively.

On the final note, Healthcare & Pharmaceutical gained 1.22 percent and Chemical rose by 0.54 percent. Banks sector index declined by 0.83 percent or 29.03 points to close at 3,449.49 points, Basic resources sector index tumbled by 0.01 percent but Food & Beverages advanced by 0.70 percent. Construction & Materials added 0.04 percent but Industrial Goods & Services dropped by 0.70 percent. Whereas, Travel & Leisure sector index surged by 3.98 percent and Real Estate rose by 0.60 percent. However, Telecommunications decreased by 0.47 percent and Financial Services excluding Banks plunged by 0.46 percent.