Egypt Market Watch | June 18th 2015: Egyptian stock exchange maintains the uptrend momentum with EGP 1.6 billion gains.

Cairo, Egypt (Capital Markets in Africa):- Egyptian equity indices were maintained the bullish momentum to close the week on positive note. The market capitalisation gained around EGP 1.4 billion to close at EGP 490.129 billion (against EGP 488.733   billion recorded yesterday), backed by Egyptians’ strong buying. On a week-on-week basis, market capitalization added EGP 0.7 billion relative to last week Thursday market capitalization.

The benchmark index EGX30 slightly surged by 0.24 percent or 20.16 points to end the day at 8,576.71 points (-3.92 percent year-to-date performance). Similarly, the small and mid-cap index EGX70 climbed by 0.66 percent or 3.01 points to settle at 457.12 points (-19.16 percent year-to-date return). Also, the broader index EGX100 surged by 0.91 percent or 8.71 points to 962.87 points (-11.70 percent year to date performance) and the EGX20 capped index advanced by 0.32 percent or 28.02 points to close at 8,780.05 points (-12.47 percent year-to-date).

From market activity perspective, today turnover was recorded at EGP 344.229 million generated from 77.642 million traded stocks. In term of investor type, foreign traders ended as net buyers by EGP 28.4 million, while Egyptian  and Arab traders were net sellers by EGP 15.7 million and EGP 12.7 million respectively. Equally, Institutional investors were mostly buyers, while retail traders were mostly sellers.

Looking that the market leaders and laggards, there were 65 price leaders and 47 price laggards which bring the market breath to settle at positive. The price leaders were Acrow Misr grew by 8.31 percent to close the trading sessions at EGP 35.71 and Engineering Industries ascended by 8.02 percent with closing price of EGP 7.54. Equally, General Silos & Storage Egypt edge by 7.65 percent to conclude at EGP 25.88 and Gharbia Islamic Housing Development. Egypt gained 6.00 percent to settle at EGP 4.42.

On the contrary, Islamic National Food Industries Egypt fell by 6.10 percent to end at EGP 5.54, Arab Aluminium plummeted by 5.57 percent to trade at EGP 13.22 and Assiut Islamic Trading tumbled by 5.00 percent with closing price of EGP 5.70. Equally, Al Baraka Bank Egypt and Development & Engineering Consultants plunged by 4.09 percent and 3.37 percent to trade at EGP 11.03 and EGP 10.91 respectively.

On the final note, most of the sector indices ended in positive territory today apart from Banks section index lost 0.56 percent or 21.25 point to close at 3,802.71 points, Food & Beverage (fell by 0.94 percent) and Healthcare & Pharmaceuticals (plunged by 0.07 points). Also, Chemicals and Construction & Materials lost 0.34 percent and 0.07 percent respectively. The gaining sectors were Basic Resources (went up by 1.24 percent) and Industrial Goods & Services sector index (surged by 1.10 percent). Equally, Financial Services excluding Banks gained 0.03 percent and Travel & Leisure surged by 0.44 percent. Also, Telecommunications advanced by 0.79 percent and Personal & Household Products rose by 1.13 percent and Real Estate plunged by 0.87 percent.

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