Arab individual selling pushes EGX into red zone Sunday

CAIRO - 21 April 2019: The Egyptian Exchange (EGX) ended first week of the week in red, and lost around LE 5.95 billion of market capitalization, amid Arab individuals selling.

The benchmark EGX30 lessened 0.25 percent, or 37.74 points, to close at 14,838.63 points.

The equally weighted index EGX50 dropped 0.74 percent, or 17.19 points, to reach 2,302.18 points.

Moreover, the small and mid-cap index EGX70 dipped 0.64 percent, or 4.23 points, to close at 654.51 points, and the broader index EGX100 declined 0.59 percent, or 9.93 point, to 1,672.36 points.

Market capitalization gained LE 5.95 billion, recording LE 804.46 billion, compared to LE 810.4 billion in Thursday's session.

The trading volume reached 47.53 million shares, traded through 9,171 transactions, with a turnover of LE 190.65 million.

Arab investors were net sellers at LE 14.41 million, while Egyptian and foreign investors were net buyers at LE 13.51 million, and LE 899,878, respectively.

Egyptian and foreign individuals were net buyers at LE 24.15.75 million, and LE 181,911, respectively, while Arab individuals were net sellers at LE 19.93 million.

Arab and foreign organizations bought at LE 5.53 million, and LE 717,967, respectively, while Egyptian organizations sold at LE 10.64 million.

United Housing & Development, EDRs Of Al Salam Holding Company, and Kafr El Zayat Pesticides, were top gainers of the session by 6.81 percent, 4.48 percent and 3.08 percent, respectively.

Meanwhile, El Nasr for Manufacturing Agricultural Crops, Arabian Food Industries (DOMTY), and Sabaa International Company for Pharmaceutical and Chemical were top losers of the session by 7.82 percent, 6.31 percent, and 6.21 percent, respectively.

EGX ended Thursday's session on mixed note, as EGX30 inched up 0.08 percent, EGX50 rose 0.10 percent, while EGX70 declined 0.68 percent, and EGX100 dropped 0.55 percent.