EGX ends week in red, market cap. loses LE2.09B

CAIRO - 14 November 2019: The Egyptian Exchange (EGX) continues its presence in red zone during the last session of the week, losing LE 2.09 billion of market capitalization, amid Arab and foreign selling.

The benchmark EGX 30 declined 0.43 percent, or 62.15 points, to close at 14,545.54 points.

The equally weighted index EGX 50 decreased 0.27 percent, or 5.64 points, to end at 2,105.3 points.

The small and mid-cap index EGX 70 dipped 0.24 percent, or 1.31 points, to close at 546.19 points, and the broader index EGX 100 dropped 0.22 percent, or 3.26 points, to 1,447.79 points.

Market capitalization lost LE 2.09 billion, recording LE 728.08 billion, compared to LE 730.17 billion in Wednesday's session.

The trading volume reached 140.69 million shares, traded through 19,851 transactions, with a turnover of LE 629.59 million.

Egyptian investors were net buyers at LE 76.22 million, while Arab and foreign investors were net sellers at LE 6.17 million, and LE 70.05 million, respectively.

Egyptian, Arab and foreign individuals were net buyers at LE 43.39 million, LE 6.44 million and LE 2.87 million, respectively.

Arab and foreign organizations sold at LE 72.93 million, and LE 12.61 million, respectively, while Egyptian organizations bought at LE 32.83 million.

Mohandes Insurance, El-Nile Co. for Pharmaceuticals and Chemical Industries, and General Silos & Storage were top gainers of the session by 9.25 percent, 8.42 percent and 7.44 percent, respectively.

Meanwhile, Gulf Canadian Real Estate Investment Co., Gharbia Islamic Housing Development, and Lecico Egypt were top losers of the session by 8.96 percent, 8.42 percent, and 8 percent, respectively.

On Wednesday, EGX ended trading in red , EGX30 declined 0.42 percent, EGX50 dipped 0.30 percent, EGX70 decreased 0.10 percent, and EGX100 dropped 0.20 percent.

Sunday, Nov. 10, was an official holiday for EGX on the anniversary of Prophet Muhammad’s birthday.