Egypt Equity Watch | 5th July 2015: Egyptian equity markets Benchmark Index dives 1.16% as market cap reaches EGP 496 billion

Cairo, Egypt (Capital Markets in Africa):- Egyptian equity markets Benchmark Index dived 1.16 percent however market activity by Nationals pushed market capitalisation to EGP 496.131 billion arresting a weakening market through increased mid cap trading volumes.

The benchmark index EGX30 dropped 1.16 percent to end the day at 8218.25 points (with the resultant year-to-date performance of -7.9351 percent). Likewise, EGX70, which measures small and mid-cap index, plunged -0.85 percent to settle at 438.51 points (-22.4466 percent year-to-date return). The broader index EGX100 slumped by -0.84 percent to 928.68 points (-14.8359 percent year to date performance) and the EGX20 capped index went down by -0.95 percent to close at 8,382.5 points (-16.4316 percent year-to-date return).

From a market activity perspective, today’s turnover peaked at EGP 496.131 million exchanged in 227.434 million traded securities carried out in 19,873 Trades boosted by mid cap trading volumes adding 5,578 more trades than its Friday session. The Amer Group Holding continued to show the way as the most active traded share in terms of turnover with EGP 5.722 million.

In terms of investor type, Nationals were net sellers of shares worth EGP 162 million and Arab investors registered EGP -24.5 million, while foreigners recorded a buy/sell difference of EGP -393,399.

With regards to the price movers and shakers, the market price gainers and losers, there were 32 price gainers and 84 price losers leaving the market breadth weighted towards the negative.

The price movers were led once again by North Africa Company for Real Estate Investment advancing to 9.89 percent to close the trading sessions at EGP 1.82. Saudi Egyptian Investment & Finance gave chase growing 9.01 percent to close at EGP 58.69. Making up the final 3 highest gainers in the Top 5 were Asek Company for Mining – Ascom edging forward by 5.97 percent to finish at EGP 7.28, General Company for Land Reclamation rising 4.71 percent to settle at EGP 19.57 and Misr Beni Suef Cement surging to a closing price of EGP 39.99 an increase of 4.58 percent.

On the other side, El Arabia for Land Reclamation led the losers falling -8.27 percent to end at EGP 7.99,  Alexandria Cement which plummeted -7.67 percent to trade at EGP 8.31 and Asiut Islamic Trading tumbling -7.13 percent to end with a closing price of EGP 5.21. In the same vein, Abu Dhabi Islamic Bank – Egypt fell by -7.03 percent to trade at EGP 5.95 and Orascom Hotels and Development dipped -6.76 percent to close at EGP 9.79 at the end of the day’s session.

On a final note, most of the sector indices again ended in the red region today with only three sectors edging into positive territory. On the losers’ table, Banks sector index were down -1.34 percent to close at 3,667.55 points, Industrial Goods & Services sector index (declined by -1.7 percent to close on 1198.57) and Travel & Leisure (fell by -0.81 percent to close on 202.01). In addition, Real Estate plunged -1.19 percent to close 1399.17 and Personal and Household Products fell 0.96 percent to close 855.6 respectively.

Further to this, Basic Resources remained in the red (dropped by -1.24 percent to a 379.6 close) and Food & Beverages sector index (slipped by 1.84 percent to a 1232.79 close). Likewise, Financial Services excluding Banks shrunk by -1.04 percent to close 464.69.

On the gainers’ region were Chemicals (up 0.34 percent to settle at a close of 671.1), Healthcare and Pharmaceuticals (edging up 0.03 Percent to close at 2795.89) and Telecommunications (which gained by 0.37 percent to close with 362.4).