Egypt Market Watch | June 14th 2015: Egyptian equity markets slide by EGP 3.2 billion

Cairo, Egypt (Capital Markets in Africa):- The Egyptian Exchange (EGX) indices tumbled at beginning of the week, with the market capitalisation went down by almost EGP 3.2 billion to close at EGP 486.213 billion (against EGP 489.388 billion recorded yesterday) on thin liquidity which is below EGP 250 million and lack of institutional investors.

The benchmark index EGX30 tumbled by 1.07 percent or 92.33 points to end the day at 8,534.13 points (-4.40 percent year-to-date performance). Equally, the small and mid-cap index EGX70 drifted by 0.38 percent or 1.72 points to settle at 446.75 points (-20.99 percent year-to-date return). Also, the broader index EGX100 plunged by 0.57 percent or 5.47 points to 945.88 points (-13.26 percent year to date performance) and the EGX20 capped index declined by 1.43 percent to close at 8,664.45 points (-13.62 percent year-to-date).

From market activity perspective, today turnover amounted to EGP 232.169 million, generated from exchanging 92.283 million traded shares. In term of investor type, Egyptian investors were net buyer at EGP 2.499 million while Arab investors and Foreign investors were the net seller at EGP 251,532 and EGP 2.197 million respectively. Also, retail investors and institutions accounted for 47.03 percent and 52.96 percent respectively of the total turnover.

There are 33 price shakers and 88 price laggards which bring the market breath to negative. The price shakers were Egypt Aluminium progressed by 8.51 percent to close the trading sessions at EGP 14.66 and Mansourah Poultry Egypt climbed by 8.19 percent with closing price of EGP 19.29. Likewise, Sinai Cement Egypt surged by 4.36 percent to conclude at EGP 4.36 and United Arab Shipping Egypt gained 3.31 percent to settle at EGP 1.25. On the contrary, Al Arafa for Investment & Consultancies, Arabian Cement Company, Pyramisa Hotels and Gulf Canadian Real Estate Investment Co Egypt plummeted by 5.56 percent to trade at US$0.17, 5.16 percent to conclude at EGP 15.06, 4.85 percent to settle at EGP 20.00 and 4.34 percent with a closing price of EGP 10.14 respectively.

All the sector indices ended in negative territory today. Banks (lost 0.44 percent with year-to-date yield of 17.05 percent), Construction and Materials (went down by 3.26 percent) and Chemicals sector index (plummeted by 0.79 percent). Equally, Basic Resources lost 0.62 percent, Travel & Leisure plummeted by 1.68 percent, Financial Services excluding Banks lost by 1.38 percent, Telecommunications declined by 1.59 percent and Real Estate sector index tumbled by 1.92 percent.