Egypt stocks shed $9 billion in market cap during 2015

Egypt’s stock market incurred losses totalling 70.3 billion Egyptian pounds (US$9 billion) during 2015.

Market capitalisation ended at 429.793 billion on the final trading day of 2015, from 500.020 billion in the same period a year earlier. Through the sharp fall in the market cap’s values, they still remain 110 billion pounds higher than recorded in June 2013.

Indices

The country’s benchmark index, EGX30 dived 21.5 percent in one year to close at 7006 points.

As for the mid- and small-cap index, the EGX70 sank 33 percent to end at 378.69 points. The price index EGX100 also pushed down 28 percent to conclude at 790.57 points.

Meanwhile, the Egyptian bourse for Small and Medium-sized enterprises – NILEX’s Index has also plunged 22 percent during the year trading.

The massive drops was due to several local and global incidents, notably Chinese bourse crash in August, and plan to impose a 10% capital gains tax on profits made on the Egyptian stock market, but it was later cancelled.

Turnovers & Market Summary

Throughout 2015, EGX’s traded volume reached more than 45 billion securities worth turnovers of around 226 billion pounds, exchanged through 4.9 million transactions. In 2014, the traded volume had reached 57 billion securities worth turnovers of around 56 billion pounds, exchanged through 7.3 million transactions.

Elsewhere, the traded volume for the Nile Stock Exchange (NILEX) during 2015 jumped 45 percent to record 380 million securities worth 618 million pounds, exchanged through 94,000 transactions.

Comments
Loading...