Egyptian organizations selling keep EGX in red for 2nd session in row

CAIRO - 16 April 2019: The Egyptian Exchange (EGX) ended Tuesday trading in red for the second consecutive session, losing LE 5.9 billion of the market capitalization, amid Egyptian organizations selling.

The benchmark EGX30 dropped 0.55 percent, or 82.41 points, to close at 14,973.01 points.

The equally weighted index EGX50 decreased 1.08 percent, or 25.44 points, to reach 2,334.13 points.

The small and mid-cap index EGX70 dipped 0.71 percent, or 4.76 points, to close at 664.88 points, and the broader index EGX100 lessened 0.70 percent, or 11.99 point, to 1,696.97 points.

Market capitalization lost LE 5.9 billion, recording LE 813.49 billion, compared to LE 819.43 billion in Monday's session.

The trading volume reached 137 million shares, traded through 19,947 transactions, with a turnover of LE 681.85 million.

Egyptian investors were net sellers at LE 25.17 million, while Arab and foreign investors were net buyers at LE 3 million, and LE 22.16 million, respectively.

Egyptian, Arab and foreign individuals were net sellers at LE 9.9 million, LE 14.47 and LE 470,266, respectively.

Egyptian organizations sold at LE 15.23 million, while , Arab and foreign organizations bought at LE 17.48 million, and LE 22.63 million, respectively.

National Housing for Professional Syndicates , Sues Canal Company For Technology Settling, and El-Nile Co. for Pharmaceuticals and Chemical Industries, were top gainers of the session by 7.75 percent, 6.70 percent and 3.69 percent, respectively.

Meanwhile, El Kahera Housing, Credit Agricole Egypt, and East Delta Flour Mills were top losers of the session by 8.06 percent, 6.75 percent, and 6.07 percent, respectively.

EGX ended Monday's session in red, as EGX30 decreased 0.09 percent, EGX50 inched down 0.55 percent, EGX70 declined 0.48 percent, and EGX100 dropped 0.42 percent.