Egypt Market Watch | June 23rd 2015: Egyptian stock equities deplete by EGP 2.5 billion

Cairo, Egypt (Capital Markets in Africa):- Both Egyptian equity indices and market capitalisation ended southward. The market capitalization ended at EGP 487.589 billion, by losing EGP 2.5 billion relative to  EGP 490.115 billion recorded at previous trading session, as a result of selling pressures from Arab investors.

The benchmark index EGX30 fell by 0.52 percent or 44.48 points to close at 8,444.93 points (-5.40 percent year-to-date performance). Likewise, the small and mid-cap index EGX70 summersaulted by 0.61 percent or 2.74 points to settle at 447.51 points (-20.85 percent year-to-date return). Also, the broader index EGX100 plunged by 0.54 percent or 5.13 points to 945.30 points (-13.31 percent year to date performance) and the EGX20 capped index declined by 1.18 percent or 102.09 points to close at 8,515.07 points (-15.11 percent year-to-date).

From market activity perspective, today turnover was recorded at EGP 297.268 million generated from 71.056 million traded securities. In term of investor type, Arab traders were net sellers by EGP 33 million, while national and foreign traders were net buyers by EGP 18.7 million and EGP 14.3 million in a row.

In term of the market leaders and laggards, out of the 164 listed stocks, 97 losers, 31 gainers and 36 remained unchanged, hence the market breath (measured as ratio of gainers to losers) settle at negative. The price gainers were Engineering Industries grew by 4.94 percent to close the trading sessions at EGP 7.65 and Arab Aluminium advanced by 3.13 percent with closing price of EGP 12.52. Equally, Ismailia National Food Egypt surged by 2.72 percent to conclude at EGP 5.66 and Mohandes Insurance added 2.56 percent to settle at EGP 15.25.

On the red zone, Sabaa International plunged by 6.63 percent to end at EGP 3.80, Arab Pharmaceuticals rose by 5.54 percent to trade at EGP 8.18 and El Kahera El Watania Investment declined by 5.53 percent with closing price of EGP 8.20. Likewise, GB Auto and Juhayna Food Industries dropped by 4.39 percent and 3.78 percent to trade at EGP 4.36 and EGP 3.78 respectively.

On the final note, most of the sector indices ended in red zone today apart from Banks sector index gained 0.55 percent or 21.02 points to close at 3,839.28 points and Construction & Materials surged by 0.03 percent. On the losing end, Basic Resource and Industrial Goods & Services lost 1.97 percent and 1.85 percent respectively. Equally, Telecommunications went down by 1.26 percent and Financial Services excluding Banks sector index plunged by 0.72 percent. Likewise, Chemicals fell by 1.25 percent and Personal & Household Products lost 0.09 percent. Also, Real Estate sector index tumbled by 1.59 percent and Food & Beverages dropped by 3.04 percent.