Egypt Equity Watch | 19 Aug 2015 : Egyptian bourse extends further south … equity market cap US$1.1 billion and EGX30 hits 18 months low

Cairo, Egypt (Capital Markets in Africa):- Equity trading on the Egyptian Exchange continued on the downward trends for four consecutive sessions.  The market capitalization ended at EGP 447.6 billion after shedding EGP 8.5 billion (US$1.1 billion); relative to EGP 456.1 billion recorded at previous day trading session.

The benchmark index EGX30 further lower by 2.13 percent or 157.66 points to end 7,240.77 points, extending its southward movement for the fourth trading session in a row to hit lowest level in 18 months. The equal-weighted indexes EGX50 plunged by 1.69 percent or 22.23 points to settle at 1,291.50 points.

EGX70, which measures small and mid-cap index, fell by 1.26 percent or 5.27 points to settle at 412.79 points.

The broader index EGX100 also tumbled by 1.65 percent or 14.53 points to 865.36 points and the EGX20 capped index slid by 1.75 percent or 128.66 points to close at 7,213.12 points.

From market activity viewpoint, today turnover was recorded at EGP 486.838 million exchanged in 214.910 million traded securities in 19,739 deals.  In term of investor type, local investors were net buyers by EGP 87 million, while Arab and foreign investors stepped out as net sellers, for the second day in row,  by EGP 22.4 million and EGP 64.6 million respectively. Arab and foreign institutions were net sellers by EGP 22.4 million and EGP 64.6 million respectively, while local institutions came as net buyers by EGP 87 million.

There were 25 price gainers and 109 price losers which bring the market breath ended negative. The price movers were El Kahera El Watania Investment grew by  7.58 percent to close the trading sessions at EGP 5.25 and Kafr El Zayat Pestcides gained 3.62 percent with closing price of EGP 19.73. General Company for Land climbed by 3.26 percent to conclude at EGP 20.88, Raya Holding increased by 3.05 percent to settle at EGP 4.73 and Egyptian Gulf Bank ended at EGP 1.43 after adding 2.88 percent.

Conversely, Belton Financial Holdings (Right issue) plummeted by 13.58 percent to end at EGP 0.70, Rowad Tourism tumbled by 9.94 percent to trade at EGP 4.80 and Grand Investment Capital sagged by 9.82 percent with closing price of EGP 5.14. Likewise, Maridive & Oil Services and East Delta Flour Mills went down by 8.57 percent and 7.42 percent to trade at EGP 0.32 and EGP 39.15 respectively.

On the final note, Healthcare & Pharmaceutical lost by 0.08 percent but Chemical rose by 0.27 percent. Banks sector index declined by 2.71 percent or 90.55 points to close at 3,246.13 points, Basic resources sector index advanced by 0.16 percent but Food & Beverages declined by 1.23 percent. Construction & Materials sagged by 0.41 percent and Industrial Goods & Services dropped by 4.77 percent. Travel & Leisure sector index tumbled by 0.92 percent and Real Estate dipped by 0.84 percent. Likewise, Telecommunications decreased by 1.67 percent and Financial Services excluding Banks plunged by 1.72 percent.