Egypt Market Watch |May 26th 2015: Egypt equities end in red and lose EGP 3.2bn

Cairo, Egypt (Capital Markets in Africa):-Egyptian equity market closed in negative territory today. The market capitalization declined from EGP 506.089 billion to EGP 502.936 billion (that is lost over EGP 3.2 billion).

The benchmark index EGX30 lost 0.83 percent or 75.44 points to end the day at 8,975.32 points (0.546 percent year-to-date performance). Likewise, the small and mid-cap index EGX70 went down by 0.23 percent to settle at 483.17 points (-14.55 percent year-to-date return). Also, the broader index EGX100 lost by 0.78 percent to 1,001.11 points (-8.194 percent year to date performance) and the EGX20 capped index plummeted by 0.50 percent to close at 9,537.36 points (-4.92 percent year-to-date).

From market activity perspective, Tuesday’s turnover and volume amounted to EGP 568.9 million and 181.6 million respectively. Arab and foreign investors were net sellers of EGP 18.2 million and EGP 42.5 million, respectively, while Egyptians recorded a buy/sell difference of EGP 60.7 million.

The market sentiment was positive today (measured as gainers/losers ratio), out of the 175 securities traded today, 53 gainers, 84 losers and 38 remained unchanged. On the gainers side, the top performance were Belton Financial Holding Egypt advanced by 7.54 percent to close the trading sessions at EGP 8.27 and Arab Pharmaceutical surged by 5.21 percent with closing price of EGP 9.09. Similarly, Egyptian Tourism Resorts Egypt rose by 4.76 percent to end at EGP 1.10 and El Ahli Investment & Development Egypt appreciated by 4.71 percent to trade at EGP 8.22. On the other hand, topping the losers’ table were El Ezz Aldekhela Steel, El Ahram Company, Alexandria Cement, Cairo Educational Services and Ismailia National Food Industries lost 9.06 percent to trade at EGP 434.68, 5.46 percent to end at EGP 12.29, 5.38 percent to settle at EGP 8.26, 5.16 percent with a closing price of EGP 11.94 and 5.04 percent to close at EGP 6.41 respectively.

From the sector perspectives, Personal & Household (plummeted by 2.25 percent), Telecommunication (declined by 1.98 percent), Food & Beverages (lost 1.85 percent) and Banks (lost 1.52 percent) top the losers’ league. While, topping the sector indices were Travel & Leisure (advanced by 3.35 percent), Telecommunication (declined by 1.98 percent) and Real Estate (surged by 0.72 percent).