EGX loses LE 24.5 billion of its market cap. amid Egyptian, Arab selling

CAIRO – 16 September 2018: The Egyptian Exchange (EGX) ended Sunday’s session in collective setbacks, and market capitalization lost LE 24.5 billion, amid Egyptian and foreign selling.

The benchmark EGX30 dropped 3.61 percent, or 552.99 points, to close at 14,755.63 points.

The equally weighted index EGX50 declined 3.79 percent, or 92.88 points, to reach 2,357.86 points.

The small and mid-cap index EGX70 dipped 1.23 percent, or 9.13 points, reaching 733.61 points, and the broader index EGX100 inched down 1.87 percent, or 35.62 points, closing at 1,864.51 points.

Market capitalization lost LE 24.55 billion, recording LE 825.08 billion, compared to LE 849.64 billion in Thursday’s session.

The trading volume reached 250.64 million shares, traded through 23,096 transactions, with a turnover of LE 633.57 million.

Northern Upper Egypt Development & Agricultural Production, Egyptian Gulf Bank, and Acrow Misr were top gainers of the session by 3.48 percent, 1.25 percent and 1.25 percent, respectively.

On the other hand, Modern Shorouk Printing & Packaging, North Africa Co. for Real Estate Investment, and Sues Canal Company for Technology Settling were top losers of the session by 9.87 percent, 9.56 percent, and 9.38 percent, respectively.

Arab investors were net buyers at LE 19.64 million, while Egyptian and foreign investors were net sellers at LE 6.23 million and LE 13.41 million, respectively.

Arab and foreign individuals were net sellers at LE 17.04 million and LE 850,612, respectively, while Egyptian individuals were net buyers LE 6.57 million.

Egyptian and foreign organizations sold at LE 12.8 million and LE 12.56 million, respectively, while Arab organizations bought at LE 36.68 million.