Egypt Market Watch | June 1st 2015: Egypt equities continue to slide losing EGP 164 million

Cairo, Egypt (Capital Markets in Africa):-Egyptian equity markets plummeted today, the first day of the week and month of June. The market capitalization lost GBP164 million to end at EGP 495.542, compared with previous market capitalization of EGP 495.705 billion.

The benchmark index EGX30 (which measures the top 30 active stocks) retreated it early upsurge to later decline by 0.43 percent or 37.51 points to end the day at 8,745.04 points. Likewise, the small and mid-cap index EGX70 went down by 0.78 percent (or 3.65 points from previous level) to settle at 466.07 points. Also, the broader index EGX100 lost by 0.54 percent (or 5.29 points) to 980.75 points and the EGX20 capped index plummeted by 0.48 percent or 44.79 points to close at 9,222.22 points.

From market activity perspective, Monday’s turnover amounted to EGP 445.3 million, upon exchanging 138.1 million shares. Foreign investors were net sellers by EGP 22.1 million, while national and Arab traders were net buyers by EGP 17.8 million and EGP 4.3 million respectively. However, retail investors were mostly sellers, while institutions (except for foreign investors) headed for buying.

The market sentiment was negative today (measured as gainers/losers ratio), out of the 163 securities traded today, 33 gainers, 89 losers and 33 remained unchanged. On the gainers side were Upper Egypt Flour Mills Egypt advanced by 8.92 percent to close the trading sessions at EGP 70.80 and United Arab Shipping surged by 5.56 percent with closing price of EGP 1.14. At the same time, Egyptian Satellites Egypt rose by 5.10 percent to end at EGP 13.81 and Saaba International Egypt advanced by 4.53 percent to trade at EGP 4.85. On the losers’ side, were Torah Cemenet Egypt, Sharm Dreams Co. Tourism, Alexandria Flour Mills Egypt, Golden Coast Egypt and Sinia Cement fell by 5.56 percent to trade at EGP 15.11, 4.56 percent to end at EGP 6.70, 3.60 percent to settle at EGP 18.21, 3.52 percent with a closing price of EGP 14.27 and 3.48 percent to close at EGP 28.60 respectively.

From the sector perspectives, all the sector indices closed in red at end today’s sessions apart from industrial good & services and healthcare & Pharmaceuticals sector indices gained 0.07 percent and 1.18 percent respectively. Travel & Leisure went down by 0.09 percent, Telecommunication declined by 0.33 percent, Basic Resources declined by 1.17 percent and Real Estate sector index plummeted by 0.84 percent.