Egypt Equity Watch | 20 Aug 2015 : Egyptian bourse losses on extended bear run…EGX30 down a further 68.14 bps

Cairo, Egypt (Capital Markets in Africa):- Equity trading on the Egyptian Exchange continued on its downward trend for the fifth consecutive session today.  The market capitalization ended at EGP 447.06 billion at the end of the days trading session.

The benchmark index EGX30 fell by a further -0.94 percent or 68.14 points to end 7,172.63 points, extending its southward movement for the fifth trading session in a row to hit lowest levels in 18 months. The equal-weighted index EGX50 plunged by -0.90 percent or 11.67 points to settle at 1,279.83 points.

EGX70, which measures small and mid-cap index, fell by 0.67 percent or 2.75 points to settle at 410.04 points.

The broader index EGX100 also tumbled by -0.29 percent or 2.55 points to 862.81 points and the EGX20 capped index slid by 0.90 percent or 64.76 points to close at 7,148.36 points.

From a market activity viewpoint, today’s turnover was recorded at EGP 444,068 million exchanged in 210,879 million traded securities in 20,901 deals.  In term of investor type, local investors were net buyers by EGP 73 million, while Arab and foreign investors stepped out as net sellers by EGP 35.1  million and EGP 135.5 million respectively. Arab and foreign institutions were net sellers by EGP -68.1 million and EGP -15.5 million respectively, while local institutions came as net buyers by EGP 67.9 million.

There were 32 price gainers and 90 price losers which brings the market breadth ending in the negative. In terms of the price movers Alexandria New Medical Center grew by  6.74 percent to close the trading sessions at EGP 19.00 and Egyptian for Tourism Resorts gained 3.08 percent with closing price of EGP 1.09. Nozha International Hospital climbed by 3.64 percent to conclude at EGP 29.36, Ismailia Development and Real Estate Co increased by 2.99 percent to settle at EGP 5.17 and Mansourah Poultry ended at EGP 2.94 after adding 18.21 percent.

Conversely, Saudi Egyptian Investment & Finance plummeted by -9.27 percent to end at EGP 57.52, El Kahera El Watania Investment tumbled by -7.24 percent to trade at EGP 4.87 and Maridive & oil services sagged by -6.25 percent with closing price of EGP 0.30. Likewise, El Nasr Transformers (El Maco)  and General Company For Land Reclamation,Development & Reconstru went down by 6.03 percent and-5.75 percent to trade at EGP 4.99 and EGP 19.68 respectively.

On the final note, Banks sector index declined by -1.22 percent or 39.62 points to close at 3,206.51 points Healthcare & Pharmaceutical lost by 0.04 percent and Chemicals fell by -0.48 percent, Basic resources sector index declined by -1.51 percent.