Egypt Equity Watch | 6th July 2015: Egyptian equity markets Benchmark index drops -4.23 %, Small cap Index and all sectors also down…

Cairo, Egypt (Capital Markets in Africa):- Egyptian equity markets Benchmark Index, EGX70, EGX100 and the EGX20 capped index were all in the red today with the markets registering lowered trading activity today.

The benchmark index EGX30 dropped -4.23 percent to end the day at 7870.78 points down 347.93 points from its previous close yesterday (with the resultant year-to-date performance of -11.83 percent). Likewise, EGX70, which measures small and mid-cap index, plunged -3.08 percent to settle at 425.02 points down 13.49 points (-24.83 percent year-to-date return).

The broader index EGX100 was down 26.12 points a decrease of -2.81 percent to 902.56 points (-17.23 percent year to date performance) and the EGX20 capped index went down by -4.61 percent to close at 7,996.34 points down by 386.16 points (-17.23 percent year-to-date return).

The markets were extremely treacherous today from an activity perspective, today’s turnover peaked at EGP 484.187 million exchanged in 148.588 million traded securities carried out in 18, 120 Trades.

In terms of investor type, Nationals were net sellers of shares worth EGP 294.611 million and Arab investors registered EGP 50.63 million, while foreigners recorded a sell value of 156,326 only and a buy value of 149,305.

With regards to the price movers and shakers, the market price gainers and losers, there were 13 price gainers and 122 price losers leaving the market breadth weighted towards the negative and price losers outweighing the price gainers almost 10 times.

On the gainers side were Egypt Aluminium advancing to 7.79 percent to close the trading sessions at EGP 14.39 and Orascom Hotels and Development, growing 7.35 percent up 0.7 points to close at EGP 10.50. Making up the final 3 highest gainers in the Top 5 were  North Africa Company for Real Investment edging forward by 6 percent up 0.12 points to finish at EGP 6, Abu Dhabi Islamic Bank Egypt rising 3.87 percent up 0.23 points to settle at EGP 6.18 and Ismailia Development and Real Esate Co surging to a closing price of EGP 4.57 up 0.14 points.

On the price losers side, the shares that took a dive were Emaar Misr for Development falling -9.90 percent down 0.39 points to end at EGP 3.55,  Golden Coast Company which plummeted -9.13 percent down 1.21 points to trade at EGP 12.04 and El Ahram Co for Printing and Packing           tumbling -9.06 percent down 0.97 points to end with a closing price of EGP 9.74. In the same vein, Egyptian Financial Company – Hermes Holding Group fell by -8.39 percent down 1.12 points to close trading at EGP 12.23 and Misr Oils and Soap dipped -8.38 percent down 0.96 points to close at EGP 10.50 at the end of the day’s session.

On a final note, all the sector indices were ended in the red region today with no sectors in positive territory. Banks sector index were down -3.6 percent down 132.03 points to close at 3,535.52 points (with 7.8103 percent year to date) as were Industrial Goods & Services sector index (declined by -2.74 percent down 32.83 points to close on 1165.74, with 4.7629 percent year to date) and Travel & Leisure (fell by -6.02 percent down 12.17 points to close on 189.84 points, 29.7279 percent year to date). In addition, Personal and Household Products fell 1.96 percent down 16 points to close 839.37 points, 12.1005 percent year to date.