Back to the complete issue
Monday, 25 September 2017

The Market Yesterday

Powered by
Pharos Holding -

EGP / USD CBE market average: Buy 17.62 | Sell 17.72
EGP / USD at CIB: Buy 17.61 | Sell 17.71
EGP / USD at NBE: Buy 17.63 | Sell 17.73

EGX30 (Sunday): 13,607 (-0.6%)
Turnover: EGP 719 mn (17% below the 90-day average)
EGX 30 year-to-date: +10.2%

THE MARKET ON SUNDAY: The EGX ended Sunday’s session down 0.6%. CIB, the index heaviest constituent ended down 0.7%. EGX30’s top performing constituents were: Abu Dhabi Islamic Bank up 7.0%; Arab Cotton Ginning up 3.2%; and Kima up 2.4%. Yesterday’s worst performing stocks were: Amer Group down 2.9%; Egyptian Resorts down 2.4%; and Porto Group down 2.2%. The market turnover was EGP 719 mn, and local investors were the sole net sellers.

Foreigners: Net Long | EGP +13.1 mn
Regional: Net Long | EGP +29.1 mn
Domestic: Net Short | EGP -42.2 mn

Retail: 81.5% of total trades | 82.8% of buyers | 80.1% of sellers
Institutions: 18.5% of total trades | 17.2% of buyers | 19.9% of sellers

Foreign: 7.4% of total | 8.3% of buyers | 6.5% of sellers
Regional: 8.2% of total | 10.2% of buyers | 6.2% of sellers
Domestic: 84.4% of total | 81.4% of buyers | 87.3% of sellers


The central bank’s Monetary Policy Committee may slash key interest rates by 50 bps at its upcoming meeting on 30 September, Pharos Research suggest in their latest report. “This is mainly supported by the favorable aforementioned inflation outlook, in addition to waning demand-side pressure risks.” What further supports this view is the uptick in real absorption growth rate in the first quarter of FY2017-18 and the improvement in GDP growth for FY2016-17. Tap or click here to view the full report (pdf).


WTI: USD 50.66 (+0.22%)
Brent: USD 56.86 (+0.76%)
Natural Gas (Nymex, futures prices) USD 2.96 MMBtu (+0.44%, October 2017 contract)
Gold: USD 1,297.50 / troy ounce (+0.21%)

TASI: 7,326.32 (+0.09%) (YTD: +1.61%)
ADX: 4,440.25 (-0.33%) (YTD: -2.33%)
DFM: 3,600.32 (-0.89%) (YTD: +1.97%)
KSE Weighted Index: 434.23 (-1.12%) (YTD: +14.24%)
QE: 8,395.52 (+0.42%) (YTD: -19.56%)
MSM: 5,100.44 (+1.15%) (YTD: -11.8%)
BB: 1,303.6 (-0.33%) (YTD: +6.81%)

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.