Egypt Market Watch | June 4th 2015: Egyptian equities indices fall, market cap lose EGP 2.2 billion

Cairo, Egypt (Capital Markets in Africa):- The Egyptian Exchange (EGX) indices were down on Thursday, while equities shed around EGP 2.2 billion of the market capitalisation to end at EGP 498.003 billion against EGP 500.239 billion on Wednesday trading session.

The benchmark index EGX30 (which measures the top 30 active stocks), fell 1.4% or 124.84 points to close below the 8800 mark at 8780.76 points and reduced the year-to-date yield to -1.64 percent. Equally, the small and mid-cap index EGX70 plummeted by 0.83 percent or 3.99 points to settle at 463.63 points (-18.00 percent year-to-date return) and the broader index EGX100 fell by 0.70 percent or 6.96 points to close at 978.66 points. WhilstEGX20 capped index went down by 1.5 percent (or 49.79 points) to close at 9,202.15 points.

From market activity perspective, today’s traded volume was recorded at 122.323 million shares valued at  EGP 371.182 million. In term of type of investor, foreign and Arab investors  closed as net sellers by EGP 18.4 million and EGP 12.1 million respectively, while Egyptian investors were net buyers by EGP 30.5 million.

The market sentiment was positive today (measured as gainers/losers ratio), out of the 166 securities traded today, 40 gainers, 98 losers and 28 remained unchanged. On the one hand, topping the price gainers’ list, Reacap Financial Investments Egypt surged by 9.69 percent to close the trading sessions at EGP 2.83 and United Arab Shipping ended the day on a price of EGP 1.12 from EGP 1.18, adding 5.36 percent. Likewise, Torah Cement and Ismailia Development and Real Estate added 5.03 percent and 4.40 percent to end at EGP 15.87 and EGP 4.75 respectively.

However, Egyptian Arabian  and Sharkia National Food Egypt plummeted by 4.95 percent to end at EGP 0.96 and 4.81 percent to settle at EGP 3.96 respectively. Similarly, Arab Aluminium went down by 3.94 percent with closing price of EGP 13.42 as well as El Ahli Investment & Development Egypt shed off 3.82 percent to trade at EGP 7.55.

From the sector perspectives, all the sector indices ended in the negative territory today apart from Industrial Goods and Services and Automobiles sector index, by adding 1.28 percent or 16.64 to settle at 1,313.69 points.  However, the sector index on the negative side were Banks (-1.48 percent), Basic Resources (-2.80 percent), Travel & Leisure (-1.77 percent), Financial Services excluding Banks (-1.63 percent) and Real Estate (-1.62 percent). Also, Telecommunications, Construction & Materials, Chemicals and Personal &Household Products fell by 1.55 percent, 1.44 percent, 1.06 percent and 0.82 percent, in that order.