Egypt Market Watch | June 15th 2015: Egyptian equity markets bleeding blood non-stop for eight trading session

Cairo, Egypt (Capital Markets in Africa):- Egyptian equity markets bleeding blood non-stop for eight trading session (since Wednesday 3^rd June 2015).  The market capitalisation lost almost EGP 1.7 billion (cumulative loss of EGP 15.7 billion relative to market cap at Wednesday 3^rd June 2015) to close at EGP 484.550 billion (against EGP 486.213  billion recorded yesterday).

The benchmark index EGX30 tumbled by 0.22 percent or  18.50 points to end the day at 8,515.63 points (-4.60 percent year-to-date performance). Equally, the small and mid-cap index EGX70 drifted by 0.46 percent or 2.06 points to settle at 444.69 points (-21.35 percent year-to-date return). Also, the broader index EGX100 plunged by 0.43 percent or 4.10 points to 941.78 points (-13.63 percent year to date performance) and the EGX20 capped index declined by 0.52 percent to close at 8,619.4 points (-13.62 percent year-to-date).

From market activity perspective, today turnover was recorded at EGP 366.8 million generated from 113.7 million traded shares. In term of investor type, Arab investors were net sellers by EGP 30.2 million, while Egyptian and foreign investors ended as net buyers by EGP 5.2 million and EGP 25 million respectively. Similarly, the individual investors accounted for about 52.41 percent of the total market turnover.

There were 35 price shakers and 96 price laggards which bring the market breath to negative. The price shakers were El Arabia for Land Egypt progressed by 6.84 percent to close the trading sessions at EGP 8.12 and Egypt Aluminium climbed by 6.51 percent with closing price of EGP 14.39. Likewise, General Company for Land Egypt surged by 5.06 percent to conclude at EGP 17.39 and El Kahera El Watania Investment Egypt gained 4.80 percent to settle at EGP 7/91. Contrary, Ismailia National Food, Rowad Torurism (Al Rowad), Development & Engineering and Mohandes Insurance Egypt plummeted by 6.01 percent to trade at EGP 5.62, 5.62 percent to conclude at EGP 5.49, 5.00 percent to settle at EGP 11.20 and 3.63 percent with a closing price of EGP 14.87 respectively.

Most of the sector indices ended in negative territory today with the exception of Banks (gained 0.55 percent), Food & Beverage (went up by 0.14 percent) and Construction and Materials sector index (surged by 0.48 percent). Contrary, Basic Resources lost 0.55 percent, Travel & Leisure plummeted by 1.16 percent, Financial Services excluding Banks lost by 0.45 percent, Telecommunications declined by 1.71 percent and Industrial Goods & Services sector index tumbled by 2.25 percent. Equally, Personal & Household Products fell by 1.01 percent and Real Estate plunged by 0.79 percent.