Egypt Market Watch | June 3rd 2015: Egypt’s stock market maintains upward trend, market cap gains EGP 1.2 billion.

Cairo, Egypt (Capital Markets in Africa):- Egypt’s stock market recovered at end of  Wednesday’s trading sessions, gaining around EGP 1.2 billion to end market capitalization at 500,239 billion compared with EGP 499,007 billion recorded at previous trading sessions.

The benchmark index EGX30 (which measures the top 30 active stocks) continued it upward momentum, by gaining 0.66 percent or 58.01 points to close at 8,905.60 points, bringing the year-to-date yield to -0.235 percent. However, the small and mid-cap index EGX70 retracted to red by plummeting by 0.19 percent or 0.87 points to settle at 467.51 points and the broader index EGX100 marginally fell by 0.01 percent or 0.11 points to close at 985.62 points. Whilst EGX20 capped index advanced by 0.54 percent (or 49.79 points) to close at 9,342.61 points.

From market activity perspective, today’s traded volume was recorded at 128.849 million shares, exchanged at turnover reaching EGP 428.323 million. In term of type of investor, Egyptian and Arab institutions ended as net buyers by EGP 19.6 million and EGP 1.03 million respectively, while retail investors were mostly sellers. Egyptian investors were net buyers by EGP 5.8 million, while Arab and foreign traders were net sellers by EGP 4.03 million and EGP 1.8 million respectively.

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 one hand, topping the price gainers’ list, Reacap Financial Investments Egypt surged by 6.61 percent to close the trading sessions at EGP 2.58 and Egyptian Satellites ended the day on a price of US$15.07 from US$14.21, adding 6.05 percent. Likewise, El Kahera El Watania Investment and Medinet Nasr Housing added 4.84 percent and 3.44 percent to end at EGP 6.50 and EGP 31.57 respectively.

However, Egyptian Real Estate Group Bearer Shares and Rowad Tourism (Al Rowad) plummeted 8.92 percent to end at EGP 11.95 and 5.75 percent to settle at EGP 6.06 respectively. Similarly, Misr Beni Suef Cement went down by 5.08 percent with closing price of EGP 41.83 as well as Cairo Pharmaceuticals Egypt shed off 5.00 percent to trade at EGP 19.00.

From the sector perspectives, the sectors in negative today were Basic Resources, Food and Beverage, and Healthcare and Pharmaceuticals sector indices declined by 2.87 percent, 0.07 percent and 0.33 percent respectively. In the same negative trend, Chemicals, Personal &Household Products, Construction and Materials and Travel & Leisure sector indices lost 0.36 percent, 0.07 percent, 0.68 percent and 0.32 percent correspondingly. Nevertheless, Banks, Industrial Goods and Services and Automobiles, Financial Services excluding Banks, Real Estate and Telecommunications advanced by 0.89 percent, 0.09 percent, 0.19 percent, 1.23 percent and 0.82 percent respectively.