The Egypt Market Watch | June 25th 2015: Egyptian stock equities show a slow recovery with several sectors still in the red

Cairo, Egypt (Capital Markets in Africa):- The Egyptian equity indices and market capitalisation recovery slowed today as a number of indices went back into the red deleting previous gains made during trading yesterday. The market capitalization ended at EGP 486.132 billion; losing EGP 0.756 billion relative to EGP 486.888 billion recorded at the previous day’s trading session.

The benchmark index EGX30 lost by 0.6 percent to close at 8406.17 down 50 points to settle at 8,456.82 points (-5.8299 percent year-to-date performance).

The small and mid-cap index EGX70 however, appreciated by 0.22 percent or 0.98 points to settle at 446.69 up from 445.71 points recorded yesterday (-20.9999 percent year-to-date return).

The broader index EGX100 rose by 0.07 percent or 0.62 points from 943.55 points yesterday to settle at 944.17 (-13.4154 percent year to date performance) and the EGX20 capped index went down by 0.44 percent or 43.18 points to close at 8520.49 down from 8,558.25 points (-14.68 percent year-to-date).

From a market activity perspective, today’s turnover was recorded at EGP 794,509 million generated from 117,097 million traded securities.

In terms of investor type, Arab traders were net sellers by EGP 8.9 million, while national and foreign traders were net buyers by EGP 254.5 million and EGP 1.35 million respectively. In terms of the market leaders and laggards, out of the 155 listed stocks traded, 72 were gainers, 49 were losers and 37 remained unchanged, hence the market breadth (measured as a ratio of gainers to losers) settled within the positive once again.

The Top price gainers were Upper Egypt Flour Mills and North Africa Co. for real Estate Investment growing 9.64 percent and 8.66 percent to close the trading sessions at EGP 72.68 and EGP 1.38 respectively. They were followed by Asek Company for Mining – ASCOM advancing by 4.48 percent with a closing price of EGP 7, General Company for Land Reclamation, Development and Reconstruction up 4.19 percent closing at EGP 19.16, and Torah Cement surging 4.03 percent to conclude at EGP 15.74.

In the losers corner, TransOceans Tours plunged by -11.11 percent to end at EGP 0.08, Pyramisa Hotels fell by -6.93 percent to trade at EGP 20.01, Egypt Aluminium declined by -5.11 percent with a closing price of EGP 12.99.

Making up the bottom 2 of the Top 5 losers were Maridive and Oil Services and Ezz Steel dropped by 4.44 percent and 3.74 percent to trade at EGP 0.43 and EGP 8.50 respectively.

On a final note, most of the sector indices ended in the red today. This included the Banks sector index which lost 36.13 points and closed at EGP 3779.57 down by 0.95 percent from 3,815.7 points, Basic Resources which dipped by 2.88 percent to close at EGP 388.1 and Chemicals which sunk 0.17 percent to settle at EGP 680.09. Also in the red today were Construction and Materials (down 0.58 percent to EGP 1522.31), Financial Services and Banks (down 0.27 percent to EGP 471.57) and Telecommunications (down 0.73 percent to EGP 354.46).

On the gainers side, Real Estate was up 0.57 percent and Y=Travel and Leisure were up 2.46 percent to give these sectors some light at the end of the tunnel.