Egypt Market Watch | June 7th 2015: Egyptian equities indices fall, market cap loses EGP 2.8 billion

Cairo, Egypt (Capital Markets in Africa):-Egyptian equity markets slipped today, pressured by retail and institutional sales. The market capitalization lost EGP 2.8 billion to close at EGP 495.225 billion, compared with EGP 501.110 billion on Thursday EGP 498.004 billion.

The benchmark index EGX30 declined by 0.59 percent or 51.89 points to end the day at 8,728.87 points (-2.215 percent year-to-date performance). Likewise, the small and mid-cap index EGX70 went down by 0.36 percent or 1.68 points to settle at 461.95 points (-18.30 percent year-to-date return). Also, the broader index EGX100 lost by 0.37 percent or 3.65 points to 975.01 points (-10.59 percent year to date performance) and the EGX20 capped index plummeted by 1.21 percent to close at 9,098.96 points (-9.29 percent year-to-date).

From market activity perspective, today turnover amounted to EGP 286.976 million, generated from exchanging 114.103 million shares. Egyptian and Arab investors recorded sell/buy differences of EGP 21.8 million and EGP 6.6 million, respectively, while foreigners were net buyers of shares worth EGP 28.4 million.

The market sentiment was negative today (measured as gainers/losers ratio), out of the 164 securities traded today, 37 gainers, 86 losers and 41 remained unchanged. On the gainers side were Rubex Plastics Egypt advanced by 8.57 percent to close the trading sessions at EGP 9.88 and Egyptian Transport surged by 4.82 percent with closing price of EGP 5.44. Likewise, United Arab Shipping Egypt rose by 4.24 percent to end at EGP 1.23 and Gulf Canadian Real Estate Investment Egypt advanced by 3.38 percent to trade at EGP 10.85. On the losers’ side, were Sabaa International Company Egypt, Sues Canal Company Egypt, Abou Kir Fertilizers Egypt and Rakta Paper Manufacturing plummeted by 8.45 percent to trade at EGP 4.44, 4.41 percent to end at EGP 12.79, 4.25 percent to settle at EGP 162.77, and 4.13 percent with a closing price of EGP 4.18 respectively.

From the sector perspectives, all the sector indices closed in red today’s sessions apart from Banks (gained 0.36%), Industrial Goods and Services and Automobiles (surged by 0.16 percent) and Food & Beverage (increased by 0.01 percent). While Basic Resources lost 2.18 percent, Travel & Leisure went down by 2.01 percent, Real Estate sector index declined by 1.69 percent and Chemicals sector index plummeted by 1.28 percent.