EGX ends Ramadan’s 1st session on mixed performance amid foreign selling

CAIRO - 17 May 2018: The Egyptian Exchange (EGX) ended the first session of Ramadan on a mixed note and market capitalization lost LE 5.7 billion ($318.43 million) amid foreign selling.

On the occasion of the start of the holy month of Ramadan on Thursday, trading on the EGX will be from 10 a.m. to 1:30 p.m. (CLT).

The benchmark EGX30 declined 0.68 percent, or 115.55 points, to close at 16,877.66 points.

The equally weighted index EGX50 slipped 0.47 percent, or 13.66 points, to reach 2,899.05 points.

The small- and mid-cap index EGX70 rose 0.45 percent, or 3.84 points, closing at 852.25 points, and the broader index EGX100 climbed 0.13 percent, or 3.2 points, to close at 2,181.45 points.

Market capitalization lost LE 5.7 billion, recording LE 948.39 billion, compared to LE 954.11 billion in Wednesday’s session.

The trading volume reached 116.15 million shares, traded through 15,594 transactions, with a turnover of LE 869 million.

Foreign investors were net sellers at LE 83.15 million, while Egyptian and Arab investors were net buyers at LE 24.17 million and LE 58.98 million, respectively.

Egyptian and foreign individuals were net sellers at LE 3.9 million and LE 40.14 million, respectively, while Arab individuals were net buyers at LE 32.12 million.

Egyptian and Arab organizations bought at LE 28.08 million and LE 26.9 million, respectively, while foreign organizations sold at LE 43.02 million.

El Arabia for Land Reclamation, Wadi Kom Ombo Land Reclamation, and Housing & Development Bank were top gainers of the session by 9.99 percent, 9.92 percent and 8.02 percent, respectively.

On the other hand, Qatar National Bank Alahly, El Ahram Co. for Printing and Packing, and Cairo Pharmaceuticals were top losers of the session by 7.44 percent, 6.40 percent and 4.69 percent, respectively.

The EGX ended Wednesday session on mixed performance, as the EGX30 edged up 0.04 percent, the EGX50 rose 0.04 percent, the EGX70 decreased 0.14 percent and the EGX100 went down 0.50 percent.