Foreign selling pushes EGX into red zone Monday

CAIRO – 27 May 2019: The Egyptian Exchange (EGX) ended Monday’s session ended in red, and market capitalization lost LE 2.36 billion, amid foreign selling.

The benchmark EGX30 dipped 0.15 percent, or 21.41 points, to close at 13,960.47 points.

The equally weighted index EGX50 decreased 0.25 percent, or 5.18 points, to reach 2,100.01 points.

The small and mid-cap index EGX70 dropped 0.51 percent, or 3.09 points, to close at 602.45 points, and the broader index EGX100 lessened 0.47 percent, or 7.23 point, to 1,536.95 points.

Market capitalization lost LE 2.36 billion, recording LE 755.96 billion, compared to LE 758.32 billion in Wednesday’s session.

The trading volume reached 98.14 million shares, traded through 13,592 transactions, with a turnover of LE 338.35 million.

Foreign investors were net sellers at LE 77.19 million, while Egyptian and Arab investors were net buyers at LE 68.6 million, and LE 8.59 million, respectively.

Foreign individuals were net sellers at 389,403, while Egyptian and Arab individuals were net buyers at LE 47.85 million, and LE 529,403, respectively.

Egyptian and Arab organizations bought at LE 20.74 million, and LE 8.06 million, respectively, while foreign organizations sold at LE 76.81 million.

Sharkia National Food, Delta Construction & Rebuilding, and El Nasr for Manufacturing Agricultural Crops Egypt were top gainers of the session by 8.66 percent, 8.47 percent and 7.39 percent, respectively.

Meanwhile, Pyramisa Hotels, Nasr Company for Civil Works, and Sidi Kerir Petrochemicals were top losers of the session by 8.89 percent, 8.86 percent, and 7.96 percent, respectively.

On Sunday, EGX ended trading in green, as EGX30 rose 1.49 percent, EGX50 increased 1.53 percent, EGX70 climbed 0.31 percent and EGX100 jumped 0.50 percent.