Mubasher said in a report on Tuesday’s performance of the Egyptian Exchange (EGX) that 15 stocks saw steep declines; 3 fell to their lowest levels in more than two years, while 10 others hit their lowest levels in more than one year.
The stock slump was triggered by the current corrective wave in the local market that traced global peers amid growing fears about possible recession globally.
Alexandria Medical Center slumped 9.99% to EGP 25.4; its lowest level since 4 July 2011 (in more than 39 months). Egypt Gas also fell 2.6% to EGP 58.01; its lowest level since December 21, 2011 (in nearly 34 months).
El Obour Real Estate Investment went down 4.4% to a 27-month low of EGP 5.85, while Marsa Marsa Alam For Tourism Development plummeted 9.06% to EGP 3.11; also its lowest level since August 28, 2013 (in more than 13 and a half months).
Modern Waterproofing Co. (Bitumode) plunged 7.25% to EGP 1.28; its lowest price since September 22, 2013 (in more than 15 months).
Union National Bank – Egypt fell 6.25% to EGP 5.10; its lowest price since July 8, 2013 (in more than 15 months).
Egyptian Chemical Industries (KIMA) slumped 4% to EGP 7.5; its lowest level since August 28, 2013 (in more than 14 months).
BIG Trade lost 4.7% to EGP 1.22; its lowest level since September 24, 2013 (in more than one year).
The stock of Egyptian Financial & Industrial Co. (EFIC) declined by 4.5% to EGP 10, which represents its lowest level since September 8, 2013 (in more than 13 months). Samad Misr fell to its lowest level in September 12, 2013, as it went down 4.3% to EGP 4.93.
Medical Packaging lost 2.5% to EGP 5.91; its lowest level since July 8, 2013 (in more than 15 months). Egyptian Gulf Bank went down 1.7% to $1.17, recording its lowest level since September 4, 2013 (in more than 13 months). Misr National Steel –Ataqa lost 1.85% to a 7-month low of EGP 17. Al Arafa Investment and Consulting Co. remained unchanged at $0.20; also its lowest level since January 6, 2014.