EGX ends in red for 2nd session in row

CAIRO – 22 July 2018: The Egyptian Exchange (EGX) ended Sunday’s session in red for the second consecutive session, losing LE 3.3 billion of its market capitalization, amid Arab selling.

The benchmark EGX30 slipped 0.73 percent, or 112.52 points, to close at 15,303.79 points.

The equally weighted index EGX50 dropped 0.84 percent, or 22.26 points, to reach 2,614 points.

The small and mid-cap index EGX70 went down 0.33 percent, or 2.51 points, at 750.09 points, and the broader index EGX100 decreased 0.50 percent, or 9.62 points, closing at 1,917.67 points.

Market capitalization lost LE 3.32 billion, recording LE 863.77 billion, compared to LE 867.09 billion in Thursday’s session.

The trading volume reached 104.87 million shares, traded through 12,968 transactions, with a turnover of LE 383.46 million.

Arab investors were net sellers at LE 15.50 million, while Egyptian and foreign investors were net buyers at LE 4.11 million and LE 11.39 million, respectively.

Egyptian and foreign individuals were net buyers at LE 33.62 million and LE 5.15 million, respectively, while Arab individuals were net sellers at LE 2.25 million.

Egyptian and Arab organizations sold at LE 29.51 million and LE 13.25 million, respectively, while foreign organizations bought at LE 6.24 million.

Suez Cement, Atlas for Land Reclamation and Agricultural Processing, and Egyptian for Developing Building Materials were top gainers of the session by 4.44 percent, 4.31 percent and 3.88 percent, respectively.

On the other hand, Egypt for Poultry, Citadel Capital - Common Shares, and Paint & Chemicals Industries (Pachin) were top losers of the session by 6.09 percent, 4.79 percent and 4 percent, respectively.

EGX ended Thursday’s session in red, as EGX30 declined 1.04 percent, EGX50 decreased 0.71 percent, EGX70 dropped 0.35 percent, and EGX100 went down 0.52 percent.

Meanwhile, the Egyptian Exchange (EGX) decided that Monday, July 23, will be an official holiday on the occasion of July 23 revolution. The market will resume trading on Tuesday July 24.