Egypt Market Watch | May 31st 2015: Egypt equities continue to slide losing EGP 5.4bn

Cairo, Egypt (Capital Markets in Africa):-Egyptian equity markets slipped today, pressured by a selling tendency among Arab investors. The market capitalization lost EGP 5.4 billion to close at EGP 495.705, compared with EGP 501.110 billion on previous trading sessions.

The benchmark index EGX30 declined by 1.45 percent or 129.50 points to end the day at 8,782.55 points (-1.614 percent year-to-date performance). Likewise, the small and mid-cap index EGX70 went down by 1.76 percent (or 8.42 points) to settle at 469.72 points (-16.93 percent year-to-date return). Also, the broader index EGX100 lost by 1.52 percent (or 15.20) to 985.75 points (-9.6 percent year to date performance) and the EGX20 capped index plummeted by 1.74 percent to close at 9,267.01 points (-5.97 percent year-to-date).

From market activity perspective, today turnover amounted to EGP 384.801 million, generated from exchanging 144.624 million shares. National and foreign traders ended as net buyers by EGP 6.430 million and EGP 12.973 million, respectively, while Arab traders were net sellers by EGP 19.403 million.

The market sentiment was negative today (measured as gainers/losers ratio), out of the 168 securities traded today, 20 gainers, 119 losers and 29 remained unchanged. On the gainers side were Nozha International Hospital Egypt advanced by 8.88 percent to close the trading sessions at EGP 26.19 and United Arab Shipping surged by 4.45 percent with closing price of EGP 1.08. Likewise, Canal Shipping Agencies Egypt rose by 4.57 percent to end at EGP 8.46 and Mohandes Insurance Egypt advanced by 3.16 percent to trade at EGP 15.67. On the losers’ side, were Pyramisa Hotels Egypt, Orascom Hotel & Development, Nasr Company for Civil Works Egypt, Union National Bank Egypt and Alexandria Pharmaceuticals fell by 9.73 percent to trade at EGP 23.20, 8.25 percent to end at EGP 11.01, 6.37 percent to settle at EGP 20.00, 5.39 percent with a closing price of EGP 4.21 and 5.01 percent to close at EGP 51.36 respectively.

From the sector perspectives, all the sector indices closed in red at end of today’s sessions. Travel & Leisure went down by 3.45 percent, Telecommunication declined by 2.30 percent, Basic Resources declined by 2.81 percent and Real Estate sector index plummeted by 2.27 percent.