Egypt Market Watch | May 17th 2015: EGX indices slip and market cap EGP 960m down

Cairo, Egypt (Capital Markets in Africa):- The Egyptian Exchange (EGX) indices open the week on a negative mood, while market capitalization lost nearly EGP 960 million to close at EGP 481.727 billion.

On similar note, Sunday’s traded volume amounted to 158.3 million shares, exchanged at turnover of EGP 352.214 million. Foreign investors were net buyers by EGP 44.4 million while National and Arab traders were net sellers by EGP 21.4 million and EGP 23.1 million, respectively. Moreso, retail investors were net sellers, while institution investors ended as net buyers.

The benchmark index EGX30 fell 0.51 percent to close at 8,260.92 points (about 7.46% year-to-date performance). On the same note, the small and mid-cap index EGX70 plummeted by 0.72 percent to settle at 426.49 points (-22.80 percent year-to-date return), while the broader index EGX100 went down by 0.34 percent to 920.28 points (-15.61 percent year to date performance). Likewise, the EGX20 capped fell by 0.34 percent to close at 8,472.18 points (-7.46 percent year-to-date).

The market sentiment was negative today (measured as gainers/losers ratio), out of the 166 securities traded today, 87 decliners, 50 gainers and 29 remained unchanged. Out of the gainers, the top performance were El Nasr for Manufacturing Agricultural Crops surged by 7.34 percent to close the day at EGP 10.68 and Egyptian Real Estate Group went up by 5.21 percent with closing price of EGP 6.86. Also, Raya Holding for Technology & Communications appreciated by 4.53 percent to close at EGP 5.08 and Nasr Company for Civil Works Egypt advanced 4.06 percent to trade at EGP 18.97. On the other hand, El Arabia for Land Reclamation, Misr Beni Suef Cement, Northern Upper Egypt Development & Agricultural Production and Alexandria Spinning & Weaving (SPINALEX) Egypt were the top losers and gave up 9.20 percent (to close at EGP 7.90), 7.8 percent (to settle at EGP 40.54), 5.70 percent (to trade at EGP 5.46) and 5.68 percent (to close at EGP 0.83) respectively.

From the sector perspectives, nearly all the sector indices went down apart from Basic Resources, Industrials, Personal & Household and Telecommunications sector indices went up by 1.15 percent (-26.05 percent year-to-date), 0.40 percent (5.11 percent year-to-date), 0.70 percent (-17.56 percent year-to-date) and 1.07 percent (-32.95 percent year-to-date return). On the other hand, Bank (lost 0.34 percent but 12.44 percent year-to-date), Chemicals (gave up 1.70 percent and -16.75 percent year-to-date performance), Construction & Materials sector (went down by 1.99 percent and -22.22 percent year-to-date return), and Financial services excluding Banks (plummeted by 0.11 percent and -22.48 percent year-to-date return). In addition, Food & Beverage lost 3.05 percent and -8.10 percent year-to-date, Healthcare and Pharmaceuticals plummeted by 0.06 percent but 4.22 percent year-to-date, Real Estate depreciated by 0.96 percent and -11.62 percent year-to-date performance and Travel & Leisure sector declined by 1.27 percent and -31.07 percent year-to-date performance.