EGX ends in red for 2nd consecutive session, market cap. loses LE 15.45B

BY

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Tue, 05 Jun 2018 - 12:30 GMT

BY

Tue, 05 Jun 2018 - 12:30 GMT

FILE- The EGX trading session on December 12, 2017

FILE- The EGX trading session on December 12, 2017

CAIRO – 5 June 2018: The Egyptian Exchange (EGX) ended the mid-week session in red for the second time in a row, and market capitalization lost LE 15.54 billion ($865.72 million) amid Egyptian and Arab selling.

The benchmark EGX30 slipped 2.33 percent, or 382.22 points, to close at 16,022.11 points.

The equally weighted index EGX50 declined 2.20 percent, or 61.56 points, to reach 2,735.33 points.

Meanwhile, the small and mid-cap index EGX70 dropped 1.57 percent, or 13.05 points, closing at 818.69 points, and the broader index EGX100 decreased 1.65 percent, or 35.08 points, to close at 2,085.01 points.

Market capitalization lost LE 15.54 billion, recording LE 912.13 billion, compared to LE 927.67 billion in Monday’s session.

The trading volume reached 158.49 million shares, traded through 20,430 transactions, with a turnover of LE 817.53 million.

Foreign investors were net buyers at LE 35.88 million, while Egyptian and Arab investors were net sellers at LE 35.77 million and LE 101,455, respectively.

Egyptian individuals sold at LE 49.47 million, while Arab and foreign individuals bought at LE 6.5 million and LE 1.86 million respectively.

Egyptian and foreign organizations were net buyers at LE 13.69 million and LE 34.01 million, respectively, while Arab organizations were net sellers at LE 6.64 million.

Obour Land for Food Industries, Misr National Steel – Ataqa, and Arab Pharmaceuticals were top gainers of the session by 10 percent, 3.18 percent and 1.86 percent, respectively.

On the other hand, Sues Canal Company for Technology Settling, Northern Upper Egypt Development & Agricultural Production, and General Company For Land Reclamation, Development & Reconstruction were top losers of the session by 8.56 percent, 8.45 percent and 7.95 percent, respectively.

The EGX ended Sunday’s session in red, as EGX30 decreased 1.63 percent, EGX50 dropped 1.68 percent, EGX100 went down 1.61 percent, and EGX70 declined 1.68 percent.

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

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