My days and thoughts....

Blog covering some selected happenings in my life.

Tuesday, March 14, 2006

Easy Come Easy Go: Investing in the market

I am too excited about the crash because i predicted it a couple of months ago after people rallied behind Telecom Egypt. I am copying this market report from Hermes Brokerage Company. This is well phrased, Easy come easy go. I do not believe in conspiracy thiories. This is the market. Ups and downs. And for every action there is a reaction.

News

Egypt Market
Review-Tuesday (14 Mar. 2006)
A black Tuesday with the market following the
“Easy come easy go” principle after a rally that took most stocks to record
P/E’s, yet the effect of the correction was magnified by panicking small
investors that rushed out of the market trying to lock in profits or avoid
losses. In an attempt to cushion the free fall exhibited across the
board,
CASE stopped trading for half an hour easing out the tension
which turned out as a remedy for few small caps that managed to flip direction
and end on the green side. The HCMI lost 4.52% to close at 364.90 points.
The market turnover on Tuesday was EGP820.03 million (USD143.04 million) for
equities and EGP767.17 million (USD133.82 million) for bonds.
Few stocks
managed to move against the flow with some seizing the opportunity of reaching
their reasonable prices; EFIC surged 8.82% to close at EGP94.31/share which
positioned it as the market's top performing stock on Tuesday, with trading
worth EGP13.71 million. (Re; EFIC, Fertile Ground, Feb 26th
,2006)
Eastern Tobacco advanced 7.96% to close at EGP343.40/share made
it CASE's second top performer, with trading worth EGP40.86 million. (Re; EC,
Smoke Addiction, Feb 12th , 2006).
EIPICO gained 6.75% to close at
EGP24.98/share which ranked it as CASE's third top performing stock on Tuesday,
with EGP13.93 million worth of trade. Olympic Group gained 3.71% to close at
EGP43.89/share which made it the day's fourth top performer for the day with
EGP22.51 million worth of trade.
Telecom sector had mixed performance; On the
positive side backed by strong fundamentals;Vodafone Egypt gained 2.05% to close
at EGP97.40/share which ranked it as CASE's fifth top performing stock on
Tuesday's trading session, with EGP54.69 million worth of trade.
MobiNil had
a turnover of EGP69.53 million, rising 0.75% to close at EGP168.56/share. On the
other hand; TE has hit its all time low losing -4.81% to close at
EGP15.44/share, brushing briefly below the EGP13.0 intra-session, along with
trading worth EGP118.04 million. Surprisingly, the stock couldn’t resist the
fall, OT's turnover of EGP178.88 million has made it the market's second most
active stock for the day, yet dropping 4.04 to close at
EGP303.22/share.
Elsewhere, the damage was incurable to market movers; OCI
had a turnover of EGP215.88 million,which ranked it as CASE's most active stock
yet suffering 5.69% to close at EGP207.87/share. OHD had a turnover of
EGP48.30 million, losing 9.15% to close at EGP33.06/share. CIB was the
third most active stock on Tuesday, with a turnover of EGP133.19 million, also
dipping 4.15% to close at EGP67.17/share.
Oriental Weavers
had a turnover of EGP46.58 million, slipping 3.32% to close at
EGP75.04/share.Previous stars lost their shine with gravity overtaking their
fictitious appeal, EFG-
Hermes Holding plunged 23.57% to close at
EGP35.61/share, which ranked it as CASE's worst performing stock on Tuesday's
trading session, with trading worth EGP6.19 million.
Arab Cotton
Ginning slipped 21.11% to close at EGP11.55/share, which ranked it as
CASE's second worst performing stock on Tuesday's trading session, with trading
worth EGP0.47 million.
Cairo Housing dropped 20.80% to close at
EGP8.15/share, which ranked it as CASE's third worst performing stock on
Tuesday's trading session, with trading worth EGP0.44 million. United
Housing fell 20.70% to close at EGP13.06/share, which ranked it as CASE's
fourth worst performing stock on Tuesday's trading session, with trading worth
EGP0.08 million.
Arab Polvara dropped 20.20% to close at
EGP6.24/share, which ranked it as CASE's fifth worst performing stock on
Tuesday's trading session,with trading worth EGP0.50 million.Source: HC
Brokerage

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