EGX ends Tuesday in red, market cap. loses LE 4.5B

CAIRO – 22 May 2018: The Egyptian Exchange (EGX) ended the mid-week session in red, and market capitalization lost LE 4.47 billion ($249.45 million) amid Egyptian selling.

The benchmark EGX30 slipped 0.73 percent, or 123.25 points, to close at 16,657.66 points.

The equally weighted index EGX50 declined 0.45 percent, or 13.2 points, to reach 2,901.50 points.

The small- and mid-cap index EGX70 edged down 0.08 percent, or 0.65 points, closing at 859.76 points, and the broader index EGX100 went down 0.34 percent, or 7.37 points, to close at 2,188.86 points.

Market capitalization lost LE 4.47 billion ($249.58 million), recording LE 948.42 billion, compared to LE 952.90 billion in Monday’s session.

The trading volume reached 163.97 million shares, traded through 20,772 transactions, with a turnover of LE 1.09 billion.

Egyptian investors were net sellers at LE 41.43 million, while Arab and foreign investors were net buyers at LE 10.68 million and LE 30.75 million, respectively.

Arab and foreign individuals were net sellers at LE 2.39 million and LE 68.88 million, respectively, while Egyptian individuals were net buyers at LE 37.58 million.

Arab and Foreign organizations bought at LE 13.07 million and LE 99.63 million, respectively, while Egyptian organizations sold at LE 79.02 million.

El Arabia Engineering Industries, Wadi Kom Ombo Land Reclamation, and General Company For Land Reclamation, Development & Reconstruction were top gainers of the session by 10 percent, 9.95 percent and 9.91 percent, respectively.

On the other hand, El Kahera Housing, Sues Canal Company for Technology Settling, and Sabaa International Company for Pharmaceutical and Chemical were top losers of the session by 8.75 percent, 7.16 percent and 4.56 percent, respectively.

The EGX ended Monday’s session on a semi-collective rise, as the EGX30 edged down 0.01 percent while the EGX50 rose 0.59 percent, the EGX70 increased 0.79 percent and the EGX100 went up 0.59 percent.

Trading on the EGX during the holy month of Ramadan is from 10 a.m. to 1:30 p.m. (CLT).