Egypt Market Watch | June 21st 2015: Egyptian stock exchange lose EGP 1.6 billion on sell-offs

Cairo, Egypt (Capital Markets in Africa):- Egyptian equity markets end today trading sessions in the red region, as a result the market capitalisation lost around EGP 1.6 billion to close at EGP 488.511 billion (against EGP 490.129 billion recorded previous trading session), as a result of Egyptian investors and Arab investors sell pressure.

The benchmark index EGX30 plunged by 0.48 percent or 41.52 points to end the day at 8,535.19 points (-4.38 percent year-to-date performance). Similarly, the small and mid-cap index EGX70 tumbled by 0.16 percent or 0.74 points to settle at 456.38 points (-19.29 percent year-to-date return). Also, the broader index EGX100 plummeted by 0.38 percent or 3.70 points to 959.17 points (-12.04 percent year to date performance) and the EGX20 capped index declined by 0.74 percent or 63.67 points to close at 8,716.38 points (-12.47 percent year-to-date).

From market activity perspective, today turnover was recorded at EGP 152.6139 million generated from 51.094 million traded stocks. In term of investor type, Arab traders were net sellers by EGP 7.9 million, while national and foreign traders were net buyers by EGP 3.3 million and EGP 4.6 million in a row. Likewise, institution investors ended as net sellers, while retail traders were mostly buyers.

In term of the market leaders and laggards, there were 34 price leaders and 84 price laggards which bring the market breath to settle at negative. The price leaders were Dice Sport & Casual Wear grew by 9.70 percent to close the trading sessions at EGP 28.60 and Wadi Kom Ombo Land Reclamation advanced by 9.20 percent with closing price of EGP 8.21. Equally, Pyramisa Hotel Egypt edge by 7.50 percent to conclude at EGP 21.50 and AJWA for Food Industries Egypt gained 4.80 percent to settle at EGP 2.40.

On the contrary, Cairo Pharmaceuticals fell by 9.32 percent to end at EGP 17.03, Egypt Aluminium plummeted by 8.45 percent to trade at EGP 13.00 and Misr Beni Suef Cement tumbled by 7.55 percent with closing price of EGP 37.00. Equally, Arab Aluminium Egypt and Development & Engineering Consultants plunged by 5.82 percent and 5.04 percent to trade at EGP 12.45 and EGP 10.36 respectively.

On the final note, most of the sector indices ended in red territory today apart from Banks sector index gained 0.12 percent or 4.60 point to close at 3,807.31 points, Industrial Goods & Services sector index (gained by 0.18 percent) and Travel & Leisure (rose by1.17 points). Contrary, Chemicals and Construction & Materials lost 1.06 percent and 1.64 percent respectively. Equally, Basic Resources (went down by 0.28 percent) and Food & Beverages sector index (plunged by 0.47 percent). Likewise, Financial Services excluding Banks fell by 0.49 percent and Personal & Household lost 1.50 percent. Also, Telecommunications tumbled by 0.35 percent and Real Estate plunged by 1.04 percent.