EGX continues its downtrend, market cap. Loses LE 2.36B

CAIRO – 9 October 2018: The Egyptian Exchange (EGX) ended Tuesday in red for the second consecutive session, and market capitalization lost LE 2.36 billion, amid Egyptian and Arab selling.

On the second session of the week, the benchmark EGX30 declined 0.11 percent, or 15.27 points, to close at 13,588.74 points.

The equally weighted index EGX50 dropped 0.84 percent, or 17.69 point, to reach 2,090.48 points.

The small and mid-cap index EGX70 decreased 0.14 percent, or 0.94 points, reaching 689.73 points, and the broader index EGX100 inched down 0.11 percent, or 1.87 points, closing at 1,733.93 points.

Market capitalization lost LE 2.36 billion, recording LE 755.88 billion, compared to LE 758.25 billion in Monday’s session.

The trading volume reached 143.21 million shares, traded through 21,692 transactions, with a turnover of LE 648.5 million.

International Agricultural Products, Development & Engineering Consultants, and B Investments Holding were top gainers of the session by 5 percent, 3.90 percent and 2.94 percent, respectively.

On the other hand, General Company For Land Reclamation,Development & Reconstruction, MM Group for Industry and International Trade, and Sues Canal Company For Technology Settling were top losers of the session by 7.64 percent, 7.41 percent, and 6.90 percent, respectively.

Foreign investors were net buyers at LE 41.64 million, while Egyptian and Arab investors were net sellers at LE 17.45 million and LE 24.19 million, respectively.

Arab individuals were net buyers at LE 932,441, while Egyptian and foreign individuals were net sellers at LE 35.1 million, and LE 1.95 million, respectively.

Egyptian and foreign organizations bought at LE 17.65 million, and LE 43.59 million, respectively, while Arab organizations sold at LE 25.12 million.

EGX ended Monday in red, as EGX30 dropped 3.55 percent, EGX50 declined 4.17 percent, EGX70 decreased 1.24 percent, and EGX100 inched down 1.87 percent.