Egyptian organization selling pushes EGX into red

CAIRO - 18 June 2019: The Egyptian Exchange (EGX) ended Tuesday’s session in red, losing about LE 3.35 billion of market capitalization, amid Egyptian organization selling.

The benchmark EGX 30 declined 0.27 percent, or 38.35 points, to close at 14,202.86 points.

The equally weighted index EGX 50 decreased 0.81 percent, or 17.29 points, to close at 2,104.46 points.

The small and mid-cap index EGX 70 decreased 0.29 percent, or 1.78 points, to close at 604.25 points, and the broader index EGX 100 inched down 0.32 percent, or 5.02 point, to 1,544.13 points.

Market capitalization lost LE 3.35 billion, recording LE 757.03 billion, compared to LE 760.38 billion in Monday’s session.

The trading volume reached 80.04 million shares, traded through 13,164 transactions, with a turnover of LE 569.21 million.

Egyptian investors were net sellers at LE 140.99 million, while Arab and foreign investors were net buyers at LE 3.17 million, and LE 137.82 million, respectively.

Egyptian and foreign individuals were net buyers at LE 22.65 million and LE 927,247, respectively, while Arab individuals were sellers at LE 739,446.

Arab and foreign organizations bought at LE 3.91 million and LE 136.9 million, respectively, while Egyptian organizations sold at LE 163.64 million.

Upper Flour Mills, El Nasr for Manufacturing Agricultural Crops and Misr Cement (Qena) were top gainers of the session by 5.72 percent, 3.20 percent and 3.14 percent, respectively.

Meanwhile, Arabia Investments Holding, Delta Insurance, and Arab Real Estate Investment CO.-ALICO were top losers of the session by 8.15 percent, 5.39 percent, and 4.44 percent, respectively.

EGX ended Monday’s session on mixed note, as EGX30 rose 0.22 percent, and EGX50 increased 0.04 percent, while EGX70 dr0pped 0.10 percent, and EGX100 inched down 0.04 percent.