Egypt Market Watch | June 2nd 2015: Egypt’s stock market recovers and market cap gains EGP 3.5 billion.

Cairo, Egypt (Capital Markets in Africa):- Egypt’s stock market recovered at end of  Tuesday’s trading sessions, gaining around EGP 3.5 billion to end market capitalization at EGP 499,008 billion, backed by local institutions’ strong buying appetite.

The benchmark index EGX30 (which measures the top 30 active stocks) retreated it early slide , closing with a gain of 1.17 percent or 102.55 points to end the day at 8,847.59 points. In the same positive trend, the small and mid-cap index EGX70 surge by 0.50 percent or  2.31 points to settle at 468.38 points and the broader index EGX100 rose by 0.54 percent (or 5.27 points) to 985.73 points. The EGX20 capped index advanced by 0.77 percent or 70.60 points to close at 9,292.82 points.

From market activity perspective Tuesday’s traded volume reached 137.5 million shares, exchanged at turnover reaching EGP 636.6 million. Egyptian investors were net buyers by EGP 26.4 million, while foreign and Arab investors were net sellers by EGP 15.7 million and EGP 10.7 million respectively. In term of investor type, retail investors were mostly sellers, while institutions were net buyers.

The market sentiment was positive today (measured as gainers/losers ratio), out of the 145 securities traded today, 79 gainers, 28 losers and 38 remained unchanged. On the gainers side were Upper Egypt Flour Mills Egypt advanced by 5.70 percent to close the trading sessions at EGP 6.49 and Alexandria Cement surged by 4.88 percent with closing price of EGP 9.06. At the same time, Sinai Cement rose by 4.86 percent to end at EGP 29.99 and Reacap Financial Investments Egypt advanced by 4.53 percent to trade at EGP 4.85. While those ending in red were Arab Ceramics Egypt, Natural Gas & Mining Project, Samad Misr -EGYFERT Egypt, El Nasr For Manufacturing Agricultural Crops and GB AUTO lose 2.63 percent (to trade at EGP 4.81), 2.46 percent (to end at EGP 33.77), 2.36 percent (to settle at EGP 3.72), 2.06 percent with a closing price of EGP 10.46 and 1.96 percent to close at EGP 5.00 respectively.

From the sector perspectives, the sectors in negative today were Basic Resources, Industrial Goods and Services & Automobiles, Financial Services excluding Banks Chemicals, and Travel & Leisure went down by 0.71 percent, 0.34 percent, 0.11 percent, 0.42 percent and 0.43 percent respectively. On the positive side Banks added 1.76%, Healthcare and Pharmaceuticals gained 1.55 percent, Real Estate surged by 1.38 percent, Telecommunications rose by 1.09 percent and Personal and Household Products advanced by 0.70 percent.