Egyptian Organizations’ selling pushes EGX into red zone Monday

CAIRO – 18 March 2019: The Egyptian Exchange (EGX) ended Monday’s session in red, and market capitalization lost around LE 3.4 billion, amid Egyptian Organizations selling.

The benchmark EGX30 declined 0.82 percent, or 122.7 points, to close at 14,910.78 points.

The equally weighted index EGX50 decreased 0.79 percent, or 19.37 points, to reach 2,437.6 points.

The small and mid-cap index EGX70 dipped 0.35 percent, or 2.46 points, to close at 695.21 points, and the broader index EGX100 lessened 0.41 percent, or 7.22 point, to 1,764.01 points.

Market capitalization lost LE 3.4 billion, recording LE 829.04 billion, compared to LE 832.47 billion in Sunday’s session.

The trading volume reached 188.87 million shares, traded through 24,177 transactions, with a turnover of LE 982.56 million.

Egyptian investors were net sellers at LE 13.72 million, while Arab and foreign investors were net buyers at LE 9.69 million and LE 4.03 million, respectively.

Egyptian and Arab individuals were net buyers at LE 65.52 million, and LE 10.55 million, respectively, while foreign individuals were net sellers at LE 12.22 million.

Egyptian and Arab organizations sold at LE 79.24 million and LE 857,226, respectively, while foreign organizations bought at LE 16.24 million.

Cleopatra Hospital Company, Egyptian International Pharmaceuticals (EIPICO), and Arabian Food Industries DOMTY were top gainers of the session by 7.02 percent, 6.63 percent and 3.89 percent, respectively.

Meanwhile, ARAB Polvara Spinning & Weaving CO., Wadi Kom Ombo Land Reclamation, and Maridive & oil services were top losers of the session by 7.07 percent, 7.03 percent, and 6.36 percent, respectively.

EGX ended Sunday’s session on mixed note, as EGX30 rose 0.28 percent, EGX50 increased 0.12 percent, EGX100 inched up 0.01 percent, while EGX70 declined 0.04 percent.