Egypt Equity Watch | 18 Aug 2015 : Egyptian bourse heads further south … investors shed US$1,6 billion …

Cairo, Egypt (Capital Markets in Africa):- Egyptian Exchange ended in the negative for three consecutive trading sessions.  The market capitalization ended at EGP 468.5 billion after sagging by EGP 12.4 billion (US$1.6 billion); relative to EGP 468.5 billion recorded at previous day trading session.

The benchmark index EGX30 slid by 2.58 percent or 195.62 points to end 7,398.43 points, extending its southward movement for the third trading session in a row. The equal-weighted indexes EGX50 sagged by 2.56 percent or 34.54 points to settle at 1,313.73 points.

EGX70, which measures small and mid-cap index, marginally fell by 2.44 percent or 10.45 points to settle at 418.06 points.

The broader index EGX100 also tumbled by 1.73 percent or 15.51 points to 879.89 points  and the EGX20 capped index went down by 2.68 percent or 202.06 points to close at 7,341.78 points.

 From market activity viewpoint, today turnover was recorded at EGP 501,160 million exchanged in 192.960 million traded securities in 22,580 deals.  In term of investor type, foreign and Arab investors stepped in as net sellers with EGP 8.6 million and EGP 18.7 million respectively while local investors came out as net buyers with EGP 27.3 million.

There were 17 price gainers and 124 price losers which bring the market breath ended negative. The price movers were Saudi Egyptian Investment & Finance advanced by 8.54 percent to close the trading sessions at EGP 63.40 and Misr Beni Suef Cement gained 6.38 percent with closing price of EGP 39.37. Orascom Development Holdings climbed by 5.57 percent to conclude at EGP 5.31, Pyramisa Hotels increased by 3.55 percent to settle at EGP 21.o1 and Natural Gas & Mining Project (Egypt Gas) ended at EGP 27.38 after adding 3.24 percent.

On the losers’ chart, TransOceans Tours sagged by 11.11 percent to end at EGP 0.08, Misr Hotels plummeted by 9.99 percent to trade at EGP 16.22 and Orascom Construction Industries tumbled by 9.97 percent with closing price of EGP 230.32. Likewise, National Cement and Egyptian Arabian slid by 9.20 percent to end at EGP 8.49 and went down by 7.41 percent to trade at EGP 1.00 respectively.

On the final note, all the sector indices ended in red with exception of Chemical sector index which surged by 0.01 percent to closet at 668.06. Healthcare & Pharmaceutical lost 0.04 percent, Banks sector index declined by 3.27 percent or 112.81 points to close at 3,336.68 points and Basic resources sector index tumbled by 3.76 percent. Food & Beverages declined by 0.38 percent and Construction & Materials fell by 3.10 percent.  Industrial Goods & Services also dropped by 1.79 percent, Travel & Leisure sector index sagged by 2.20 percent and Real Estate plunged by 2.96 percent. Equally, Telecommunications decreased by 2.08 percent and Financial Services excluding Banks plummeted by 2.46 percent.