Egypt Market Watch | May 25th 2015: Egypt Market Cap shed EGP 2.5bn & EGX30 down 0.78%

Cairo, Egypt (Capital Markets in Africa):-Egyptian equity market retreated at the end of today’s trading sessions. The market capitalization declined from EGP 508.595 billion to EGP 506.089 billion (that is lost over EGP 2.5 billion).

The benchmark index EGX30 fell by 0.78 percent or 71.16 points to close the day at 9050.76 points (1.39 percent year-to-date performance). On the same note, the small and mid-cap index EGX70 went down by 0.77 percent to settle at 484.27 points (-14.35 percent year-to-date return). Likewise, the broader index EGX100 lost by 0.66 percent to 1,008.96 points (-7.47 percent year to date performance) and the EGX20 capped index plummeted by 0.53 percent to close at 9,585.54 points (-4.44 percent year-to-date).

From market activity perspective, Monday’s turnover and volume amounted to EGP 752 million and 198.16 million respectively. Arab and foreign traders were net sellers by EGP 25.9 million and EGP 6.2 million in a row, while national traders were net buyers with EGP 32.2 million.

The market sentiment was positive today (measured as gainers/losers ratio), out of the 169 securities traded today, 90 gainers, 50 losers and 29 remained unchanged. On the gainers side, the top performance were Memphis Pharmaceuticals Egypt advanced by 9.93 percent to close the trading sessions at EGP 10.96 and Cairo Educational Services surged by 9.76 percent with closing price of EGP 12.59. Similarly, United Arab Shipping Egypt rose by 6.93 percent to end at EGP 1.08 and Golden Textiles & Clothes Wool Egypt appreciated by 6.75 percent to trade at EGP 5.22. On the other hand, topping the losers’ table were General Company Land Reclamation, El Ahram Company, Acrow Misr, Gulf Canadian Real Estate Investment Co. and El Nasr Manufacturing Agricultural Crops lost 5.12 percent to trade at EGP 18.70, 5.04 percent to end at EGP 13.00, 4.76 percent to settle at EGP 29.82, 3.86 with a closing price of EGP 11.21 and 3.66 percent to close at EGP 11.07 respectively.

From the sector perspectives, all the sector indices ended in the south, apart from Telecommunication sector index which increased by 0.25 percent to close at 411.2 point (–24.93 percent year-to-date return). While Bank, Basic Resource, Chemicals, Construction & Materials, Financial Services ex. Banks, Food & Beverages, Healthcare & Pharma, Personal & Household, Real Estate, Industrial Goods & Services and Travel & Leisure sector indices went down by 1.10 percent, 1.11 percent, 0.81 percent, 1.21 percent,0.36 percent, 0.28 percent, 2.39, 0.53 percent, 1.05 percent, 0.53 percent and 1.05 percent respectively.