Egypt Equity Watch | 23 Aug 2015 : Egyptian bourse continues to stay in the south … market cap $2.4 billion down

Cairo, Egypt (Capital Markets in Africa):- Egyptian Exchange continues to stay in the south region  The market capitalization ended at EGP 428.6 billion after sagging by EGP 18.46 billion (US$2.4 billion); relative to EGP 447.06 billion recorded at previous day trading session.

The benchmark index EGX30 slid by 4.52 percent or 388.54 points to end 7,398.43 points, extending its southward movement for the fourth trading session in a row. The equal-weighted indexes EGX50 sagged by 5.89 percent or 75.42 points to settle at 1,204.51 points.

EGX70, which measures small and mid-cap index, marginally fell by 6.00 percent or 24.62 points to settle at 385.42 points.

The broader index EGX100 also tumbled by 4.31 percent or 37.18 points to 825.63 points and the EGX20 capped index went down by 6.55 percent or 467.99 points to close at 6,680.37 points.

 From market activity viewpoint, today turnover was recorded at EGP 440.789 million exchanged in 240.783 million traded securities in 21,760 deals.

There were 3 price gainers and 150 price losers which bring the market breath ended negative. The price movers were Egyptian Company for Mobile Service advanced by 0.98 percent to close the trading sessions at EGP 98.19 and Fiasal Islamic Bank of Egypt gained 0.58 percent with closing price of US$ 6.94. Egyptian Aluminium climbed by 0.44 percent to conclude at EGP 13.72.

On the losers’ chart, Belton Financial Holding Company sagged by 39.39 percent to end at EGP 0.40, Torah Cement plummeted by 9.98 percent to trade at EGP 13.53 and Pyramisa Hotels  tumbled by 9.61 percent with closing price of EGP 18.99. Likewise, Reacap Financial Investment and Alexandria Cement slid by 9.61 percent to end at EGP 2.07 and went down by 9.40 percent to trade at EGP 7.23 respectively.

On the final note, all the sector indices ended in south region. Chemical sector index lost by 1.45 percent to closet at 675.30 and Healthcare & Pharmaceutical fell by 0.16 percent, Banks sector index declined by 4.63 percent or 148.61 points to close at 3,075.90 points and Basic resources sector index tumbled by 4.64 percent. Food & Beverages declined by 4.51 percent and Construction & Materials fell by 1.80 percent. Industrial Goods & Services also dropped by 6.42 percent, Travel & Leisure sector index sagged by 4.34 percent and Real Estate plunged by 6.33 percent. Equally, Telecommunications decreased by 7.21 percent and Financial Services excluding Banks plummeted by 6.63 percent.