EGX goes on with setbacks for 2nd session, market cap. loses LE 9.3B

CAIRO – 17 September 2018: The Egyptian Exchange (EGX) ended continued its regression for the second session this week, losing LE 9.3 billion of its market capitalization, amid foreign selling.

The benchmark EGX30 dropped 0.71 percent, or 104.66 points, to close at 14,650.97 points.

The equally weighted index EGX50 declined 0.91 percent, or 21.46 points, to reach 2,336.40 points.

The small and mid-cap index EGX70 dipped 1.38 percent, or 10.11 points, reaching 723.50 points, and the broader index EGX100 inched down 1.13 percent, or 21.12 points, closing at 1,843.39 points.

Market capitalization lost LE 9.3 billion, recording LE 815.75 billion, compared to LE 825.08 billion in Sunday’s session.

The trading volume reached 170.81 million shares, traded through 20,901 transactions, with a turnover of LE 576.32 million.

Pyramisa Hotels, Egyptians Real Estate Fund Certificates, and AJWA for Food Industries Company Egypt were top gainers of the session by 8 percent, 6.78 percent and 5.51 percent, respectively.

On the other hand, Modern Shorouk Printing & Packaging, El Ahram Co. for Printing and Packing, and Sinai Cement were top losers of the session by 9.98 percent, 9.82 percent, and 9.65 percent, respectively.

Foreign investors were net sellers at LE 20.56 million, while Egyptian and Arab investors were net buyers at LE 2.18 million and LE 18.38 million, respectively.

Egyptian and foreign individuals were net sellers at LE 41.76 million and LE 1.79 million, respectively, while Arab individuals were net buyers LE 4.91 million.

Egyptian and Arab organizations bought at LE 43.94 million and LE 13.47 million, respectively, while foreign organizations sold at LE 18.77 million.

EGX ended Sunday’s session in red, as EGX30 declined 3.61 points, EGX50 inched down 3.79 percent, EGX70 dropped 1.23 percent, and EGX100 decreased 1.87 percent.