Egypt Market Watch | June 16th 2015: Egyptian equity markets rebound from 8-day decline

Cairo, Egypt (Capital Markets in Africa):- Egyptian equity markets rebounded today from eight day in negative territory. The market capitalisation added around EGP 2.587 billion to close at EGP 487.136 billion (against EGP 484.550  billion recorded yesterday).

The benchmark index EGX30 increased by 0.48 percent or  40.47 points to end the day at 8,556.10 points (-4.15 percent year-to-date performance). Equally, the small and mid-cap index EGX70 climbed by 1.72 percent or 7.67 points to settle at 452.36 points (-20.00 percent year-to-date return). Also, the broader index EGX100 surged by 1.09 percent or 10.30 points to 952.08 points (-12.69 percent year to date performance) and the EGX20 capped index advanced by 1.19 percent to close at 8,722.04 points (-13.05 percent year-to-date).

From market activity perspective, today turnover was recorded at EGP 340.421 million generated from 90.803 million traded shares. In term of investor type, Arab investors ended as net buyers by EGP 81.9 million, while Egyptian and foreign investors were net sellers by EGP 67.3 million and EGP 14.6 million respectively. The most active stocks were Misr Cement Qena was the value leader, with around EGP 89.8 million. It was followed by OTMT (EGP 26.3 million), then TMG (EGP 22.9 million), Qalaa (EGP 16.2 million), Amer (EGP 14.3 million), Palm Hills (EGP 13.7 million) and Global Telecom (EGP 10.8 million).

There were 107 price shakers and 26 price laggards which bring the market breath to positive. The price shakers were El Arabia for Land Egypt progressed by 7.39 percent to close the trading sessions at EGP 8.72 and Ceramic & Porcelain climbed by 6.99 percent with closing price of EGP 4.13. Likewise, National Real Estate Bank for Development Egypt surged by 6.84 percent to conclude at EGP 13.43 and AL Arafa for Investment & Consultancies Egypt gained 5.88 percent to settle at US$ 0.18.

Contrary, Delta for Printing & Packaging tumbled by 7.53 percent to end at EGP 12.03, Alexandria New Medical Center went down by 4.85 percent to trade at 19.03 and Grand Investment Capital plunged by 4.01 percent with closing price of EGP 4.01. Equally, Orascom Development Holding (AG) and Alexandria Cement declined by 2.50 percent and 2.11 percent to settle at EGP 5.45 and EGP 9.30 respectively.

Most of the sector indices ended in positive territory today apart from Banks section index lost 0.48 percent or 18.68 point to close at 3,841.16 points, The gaining sectors were Food & Beverage (went up by 0.32 percent) and Construction and Materials sector index (surged by 0.87 percent). Equally, Basic Resources moved up by 2.02 percent, Travel & Leisure surged by 1.87 percent, Financial Services excluding Banks gained 1.20 percent, Also, Telecommunications advanced by 2.04 percent and Industrial Goods & Services sector index climbed by 0.44 percent. Equally, Personal & Household Products rose by 0.17 percent and Real Estate plunged by 1.70 percent.