EGX enters red zone Monday, market cap. loses LE 11.6B

CAIRO – 4 June 2018: The Egyptian Exchange (EGX) ended Monday in red, and market capitalization lost LE 11.6 billion ($647.94 million) amid Egyptian and foreign selling.

The benchmark EGX30 slipped 1.63 percent, or 270.98 points, to close at 16,404.33 points.

The equally weighted index EGX50 declined 1.68 percent, or 47.79 points, to reach 2,796.89 points.

Meanwhile, the small and mid-cap index EGX70 dropped 1.54 percent, or 13.02 points, closing at 831.74 points, and the broader index EGX100 decreased 1.61 percent, or 34.69 points, to close at 2,120.09 points.

Market capitalization lost LE 11.6 billion, recording LE 927.67 billion, compared to LE 939.28 billion in Sunday’s session.

The trading volume reached 155.91 million shares, traded through 19,802 transactions, with a turnover of LE 924.4 million.

Arab investors were net buyers at LE 18.32 million, while Egyptian and foreign investors were net sellers at LE 17 million and LE 1.32 million, respectively.

Arab individuals sold at LE 2.85 million, while Egyptian and foreign individuals bought at LE 12.64 million and LE 1.45 million respectively.

Egyptian and foreign organizations were net sellers at LE 29.65 million and LE 2.77 million, respectively, while Arab organizations were net buyers at LE 21.17 million.

Modern Company for Waterproofing (Bitumode), Zahraa Maadi Investment & Development, and Abou Kir Fertilizers were top gainers of the session by 9.32 percent, 5.73 percent and 3.53 percent, respectively.

On the other hand, Development & Engineering Consultants, T M G Holding, and Cairo Poultry were top losers of the session by 7.55 percent, 7.05 percent and 6.55 percent, respectively.

The EGX ended Sunday’s session in green, as EGX30 increased 1.59 percent, EGX50 climbed 0.88 percent, EGX100 went up 0.77 percent, and EGX70 rose 0.25 percent.

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