Egypt Shares Slump, EGX30 below 7880

By Yomna Yasser On Apr 13, 2014

Egypt’s stocks ended lower on Sunday with losses totalling 2 billion Egyptian pounds amid Arab investors returned to profit-taking. Consequently, the main stock index, EGX30 finish below 7880 points.

Meanwhile, the Egyptian Exchange (EGX) indices were wavering during the closing session on Sunday.

Indices

Egypt’s benchmark index EGX30 closed 0.31 per cent lower to 7875.22 pts; while EGX20 finished 0.48 per cent up to 9373.67 pts.
On the contrary, the mid- and small-cap index, the EGX70 plummeted by 1.06 per cent to end at 589.09 pts. The price index EGX100 pushed down by 0.93 per cent to conclude at 1034.29 pts.
Furthermore, the market capitalization recorded EGP 467.488 billion on Sunday.

Turnovers below one Billion Pounds
Through the closing session of Sunday, the trading volume has reached 228.351 million securities, with turnovers worth EGP 596.013 million, exchanged through 28.827 thousand transactions.
Also during the closing session, 180 listed securities have been traded in; 110 declined, 44 advanced; while 26 keeping their previous levels.

Investors’ Activities

Arab investors were net sellers seizing 2.5% of the total market, with a net equity of EGP 18.057 million, excluding the deals.

On the other hand, Egyptian and the non-Arab foreign investors were net buyers capturing 95.75% and 1.75% respectively of the total markets, with a net equity of EGP 2.671 million and EGP 15.386 million respectively, excluding the deals.

Companies’ Activities

At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price dive on Sunday by 3.54 percent to EGP 12.00.

Market bellwether Commercial International Bank S.A.E. (COMI.CA) inched up by 1.32 percent to EGP 37.70.

In the real estate sector, Palm Hills Development Company (PHDC.CA) sank by 3.23 percent to trade at EGP 3.59, Talaat Moustafa Group Holding (TMGH.CA) fell by 0.52 percent to trade at EGP 7.70, in addition the Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) also sagged by 1.91 percent to close at EGP 24.70.