EGX continues downtrend for 5th session in row

CAIRO – 24 June 2019: The Egyptian Exchange (EGX) continued its downtrend for the fifth session in row during Monday, losing about LE 5.8 billion of market capitalization, amid Arab selling.

The benchmark EGX 30 declined 1.07 percent, or 149.87 points, to close at 13,867.47 points.

The equally weighted index EGX 50 decreased 1.13 percent, or 23.26 points, to close at 2,044.14 points.

The small and mid-cap index EGX 70 decreased 0.37 percent, or 2.25 points, to close at 599.9 points, and the broader index EGX 100 inched down 0.49 percent, or 7.57 point, to 1,528.13 points.

Market capitalization lost LE 5.8 billion, recording LE 744.67 billion, compared to LE 750.51 billion in Sunday’s session.

The trading volume reached 74.44 million shares, traded through 12,961 transactions, with a turnover of LE 364.31 million.

Arab investors were net sellers at LE 6.22 million, while Egyptian and foreign investors were net buyers at LE 2.91 million, and LE 3.31 million, respectively.

Egyptian and foreign individuals were net buyers at LE 1.83 million, and LE 97,878, respectively, while Arab individuals were net sellers at LE 1.84 million.

Egyptian and foreign organizations bought at LE 1.1 million and LE 3.2 million, respectively, while Arab organizations sold at LE 4.37 million.

General Company for Land Reclamation, Development & Reconstruction, Egyptian Real Estate Group, and Universal for Paper and Packaging Materials (Unipack) were top gainers of the session by 9.28 percent, 4.33 percent and 4.32 percent, respectively.

Meanwhile, Delta Construction & RebuildingEast Delta Flour Mills, and Cairo for Investment and Real Estate Development were top losers of the session by 9.28 percent, 8.75 percent, and 6.57 percent, respectively.

EGX ended Sunday’s session in red for the fourth session in row, as EGX30 declined 0.19 percent, EGX50 decreased 0.27 percent, EGX70 dropped 0.03 percent, and EGX100 inched down 0.08 percent