EGX continues its downtrend during mid-week session

CAIRO - 19 November 2019: The Egyptian Exchange (EGX) continued its downtrend during Tuesday’s session, losing LE 2.96 billion of market capitalization, amid Arab and foreign selling.

The benchmark EGX 30 lessened 0.45 percent, or 65.13 points, to close at 14,313.46 points.

The equally weighted index EGX 50 declined 0.35 percent, or 7.24 points, to end at 2,062.18 points.

The small and mid-cap index EGX 70 dipped 0.12 percent, or 0.63 points, to close at 535.83 points, and the broader index EGX 100 dropped 0.25 percent, or 3.61 points, to 1,421.38 points.

Market capitalization lost LE 2.96 billion, recording LE 716.99 billion, compared to LE 719.95 billion in Monday’s session.

The trading volume reached 121.69 million shares, traded through 14,727 transactions, with a turnover of LE 558.2 million.

Egyptian investors were net buyers at LE 27.76 million, while Arab and foreign investors were net sellers at LE 19.96 million, and LE 7.8 million, respectively.

Egyptian, Arab and foreign individuals were net sellers at LE 12.18 million, LE 41.54 million and LE 682,710, respectively.

Egyptian and Arab organizations bought at LE 39.95 million, and LE 21.56 million, respectively, while foreign organizations sold at LE 7.12 million.

Northern Upper Egypt Development & Agricultural Production, Gulf Canadian Real Estate Investment Co., and Arabian Cement Company were top gainers of the session by 9.97 percent, 7.89 percent and 3.64 percent, respectively.

Meanwhile, General Company For Land Reclamation,Development & Reconstruction, Alexandria New Medical Center , and Alexandria New Medical Center were top losers of the session by 9.90 percent, 6.24 percent, and 3.01 percent, respectively.

On Monday, EGX entered the red zone, as EGX30 declined 1.22 percent, EGX50 dipped 1.15 percent, EGX70 decreased 0.94 percent, and EGX100 dropped 0.95 percent.