Egypt Market Watch | June 17th 2015: Egyptian stock exchange surges for 2nd day in a row; equities gain EGP 1.6 billion

Cairo, Egypt (Capital Markets in Africa):- Egyptian equity indices were bullish today and maintained yesterday gains. The market capitalisation gained around EGP 1.60 billion to close at EGP 488.733 billion (against EGP 487.136  billion recorded yesterday), backed by Egyptians’ strong buying.

The benchmark index EGX30 slightly surged by 0.01 percent or 0.45 points to end the day at 8,556.55 points (-4.15 percent year-to-date performance). Similarly, the small and mid-cap index EGX70 climbed by 0.39 percent or 1.75 points to settle at 454.11 points (-19.69 percent year-to-date return). Also, the broader index EGX100 surged by 0.22 percent or 2.08 points to 954.16 points (-12.50 percent year to date performance) and the EGX20 capped index advanced by 0.34 percent or 29.99 points to close at 8,752.03 points (-12.75 percent year-to-date).

From market activity perspective, today turnover was recorded at EGP 418.382 million generated from 108.070 million traded stocks. In term of investor type, Egyptian investors were net buyers by EGP 42.6 million, while foreign and Arab investors ended as net sellers by EGP 33.8 million and EGP 8.8 million respectively. Equally, Institutional investors were mostly buyers, while retail traders were mostly sellers.

Looking that the market leaders and laggards, there were 83 price shakers and 26 price laggards which bring the market breath to positive. The price leaders were Egyptian Arabian (CMAR) progressed by 7.53 percent to close the trading sessions at EGP 1.00 and General Company Land Reclamation climbed by 7.28 percent with closing price of EGP 20.18. Equally, Ceramic & Porcelain Egypt surged by 7.02 percent to conclude at EGP 4.42 and North Africa Co. Egypt gained 6.67 percent to settle at EGP 1.28.

On the contrary, Mansourah Poultry Egypt plunged by 4.71 percent to end at EGP 19.20, Arab Ceramics plummeted by 3.23 percent to trade at 4.50 and Egyptian Starch & Glucose tumbled by 2.62 percent with closing price of EGP 7.81. Equally, Naeem Holdings and Alexandria Cement declined by 2.33 percent and 2.24 percent to settle at EGP 0.42 and EGP 6.56 respectively.

On the final note, most of the sector indices ended in positive territory today apart from Banks section index lost 0.45 percent or 17.20 point to close at 3,823.96 points, Financial Services excluding Banks (lost 0.14 percent), Food & Beverage (fell by 0.24 percent) and Healthcare & Pharmaceuticals (plunged by 0.246 percent), The gaining sectors were Basic Resources (went up by 1.24 percent) and Construction and Materials sector index (surged by 1.06 percent). Equally, Industrial Goods & Services moved up by 0.12 percent, Travel & Leisure surged by 0.17 percent, Chemicals gained 2.51 percent. Also, Telecommunications advanced by 1.26 percent and Personal & Household Products rose by 0.11 percent and Real Estate plunged by 0.62 percent.