Egypt Equity Market | 24 Aug 2015 : Egyptian Exchange extends down trends, EGX30 touches 20 months low

Cairo, Egypt (Capital Markets in Africa):- Egyptian Exchange extended its bearish at end of today’s trading session.  The market capitalization ended at EGP 420.8 billion after sagging by EGP 7.8 billion (US$1 billion); relative to EGP 428.6 billion recorded at previous day trading session.

The benchmark index EGX30 crashed by 1.92 percent or 130.03 points to end 6,654 points, extending its southward movement to reach lowest level since December 2013. The equal-weighted indexes EGX50 sagged by 4.45 percent or 53.65 points to settle at 1,150.86 points.

EGX70, which measures small and mid-cap index, marginally fell by 5.17 percent or 19.94 points to settle at 365.48 points.

The broader index EGX100 also tumbled by 3.82 percent or 31.58 points to 794.05 points and the EGX20 capped index went down by 3.71 percent or 247.57 points to close at 6,432.80 points.

 From market activity viewpoint, today turnover was recorded at EGP 444.202 million exchanged in 216.088 million traded securities in 24,101 transactions. Arab and foreign investors, except for institutions, came as net sellers, with EGP 4.8 million and EGP 37.9 million respectively.

There were 11 price gainers and 133 price losers which bring the market breath ended negative. The price movers were Delta Sugar soared by 7.49 percent to close the trading sessions at EGP 10.47 and Orascom Development Holdings added 4.21 percent with closing price of EGP 4.95. Raya Holdings climbed by 2.70 percent to conclude at EGP 4.56. Sinai Cement also accelerated by 2.00 percent to settle at EGP 27.03 and Sues Canal Company surged by 1.58 percent to close at EGP 12.88.

Conversely, Belton Financial Holding Company sagged by 37.50 percent to end at EGP 0.25, TransOceans Tours dropped by 12.50 percent to trade at US$ 0.07 and Glaxo Smith Kline  tumbled by 10.00 percent with closing price of EGP 10.35. Likewise, EGX30 index ETF and El Obour Real Estate Investment plunged by 9.85 percent to end at EGP 7.14 and fell by 9.81 percent to trade at EGP 7.23 respectively.

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