Egypt Market Watch | June 8th 2015: Egyptian equity market deepens, market cap loses EGP 2.7 billion

Cairo, Egypt (Capital Markets in Africa):- The Egyptian Exchange (EGX) indices closed Monday on a negative note, with the market capitalisation losing nearly EGP 2.7 billion to close at EGP 492.478 billion, amid investors’ anticipation of the MSCI 2015 annual market classification review on Tuesday.

The benchmark index EGX30 fell by 0.65 percent or 56.54 points to end the day at 8,672.33 points (-2.85 percent year-to-date performance). Equally, the small and mid-cap index EGX70 dropped 1.27 percent or 5.87 points to settle at 456.08 points (-19.34 percent year-to-date return). Also, the broader index EGX100 plummeted by 0.93 percent or 9.07 points to 965.94 points (-11.42 percent year to date performance) and the EGX20 capped index declined by 1.67 percent to close at 8,947.03 points (-10.80 percent year-to-date).

From market activity perspective, today turnover amounted to EGP 638.756 million, generated from exchanging 131.633 million shares. Egyptian and foreign investors were net sellers of EGP 18.414 million and EGP 3.148 million, respectively, while Arab investors were net buyers of shares worth EGP 21.563 million. On the other hand, retail investors were net buyers and institutional investors were net sellers.

The market sentiment was negative today (measured as gainers/losers ratio), out of the 170 securities traded today, 31 gainers, 112 losers and 27 remained unchanged. On the gainers side were El Kahera Investment Egypt advanced by 9.25 percent to close the trading sessions at EGP 7.32 and Advanced Pharmaceuticals surged by 5.08 percent with closing price of EGP 5.58. Likewise, General Company Egypt rose by 4.15 percent to end at EGP 17.81 and Delta Construction & Rebuilding Egypt advanced by 3.82 percent to trade at EGP 7.06.

On the losers’ table, were El Orouba Securities Egypt, El Arabia Egypt, Arab Ceramics Egypt and Reacap Financial Investment plummeted by 10.00 percent to trade at EGP 0.90, 8.38 percent to end at EGP 8.09, 7.71 percent to settle at EGP 4.43 and 7.09 percent with a closing price of EGP 2.62 respectively.

From the sector perspectives, all the sector indices closed in red today’s sessions apart from Banks (gained 0.78%) and Health & Pharmaceuticals (increased by 0.01 percent). While Basic Resources lost 3.94 percent, Food & Beverage went down by 2.51 percent, Travel & Leisure declined by 2.12 percent and Real Estate sector index plummeted by 1.72 percent.