Egypt Market Watch | May 20th 2015: Egypt equities plummet EGP 2.4bn

Cairo, Egypt (Capital Markets in Africa):-Egyptian equity market halt it positive momentum today. The market capitalization gave up EGP 2.4 billion compared to yesterday’s gain of EGP 1.2 billion to close at EGP 500.358 billion.

The benchmark index EGX30 fell by 0.58 percent or 51.2 points to close the day at 8,826.45 points (-1.12 percent year-to-date performance). On the same note, the small and mid-cap index EGX70 loss 0.38 percent to settle at 471.85 points (-16.55 percent year-to-date return), and the broader index EGX100 went down by 0.26 percent to 987.93 points (-9.4 percent year to date performance). On the same losing mood, the EGX20 capped index fell by 0.81 percent to close at 9,190.04 points (-8.38 percent year-to-date).

From market activity perspective, today’s turnover amounted to EGP 554.6 million and traded volume recorded at 215.4 million shares. In addition, foreign and Arab traders were net sellers by EGP 27.3 million and EGP 6 million respectively, while nationals were net buyers by EGP 33.3 million.

The market sentiment was positive today (measured as gainers/losers ratio), out of the 170 securities traded today, 48 gainers, 94 losers and 28 remained flat. On the gainers side, the top performance were Memphis Pharmaceuticals increased by 9.92 percent to close the day at EGP 9.97 and Alexandria Cement surged by 6.49 percent with closing price of EGP 8.37. Similarly, Reacap Financial Investments rose by 5.69 percent to close at EGP 2.23 and Alexandria Spinning & Weaving advanced 5.43 percent to trade at EGP 0.97. On the losers side, topping the league were Golden Textiles & Clothes Wool, Citadel Capital, Egyptian Company for Mobile Services, Suez Canal Bank, and Zahraa Maadi Investment & Development lost 7.13 percent (to close at EGP 4.82), 5.83 percent (to settle at EGP 1.94), 5.52 percent (to trade at EGP 118.00), 4.77 percent (to close at EGP 4.99) and 3.82 percent (to settle at EGP 19.89) respectively.

From the sector perspectives, all the sector indices ended in a negative side, apart from Personal & Household Products sector gained 1.36 percent. While Telecommunications sector index and Financial Services excluding Banks sector index gave up 2.01 percent and 1.66 percent respectively to top the losers’ chart.