Foreign selling pushes EGX into red zone Monday

CAIRO – 24 October 2021: The Egyptian Exchange (EGX) ended Monday in red, losing around LE 8.09 billion to market capitalization, amid foreign selling.

The benchmark EGX30 inched down 0.07 percent, or 7.88 points, to end at 11,178 points.

The equally weighted index EGX 50 dipped 3.09 percent, or 67.8 points, to end at 2,124.96 points.

The small and mid-cap index EGX 70 dropped 3.60 percent, or 87.67 points, to close at 2,345.93 points, and the broader index EGX100 decreased 2.80 percent, or 95.59 points, to close at 3,323.58 points.

Market capitalization lost around LE 8.09 billion, recording LE 741.98 billion, compared to LE 750.07 billion in Sunday’s session.

The trading volume reached 578.98 million shares, traded through 52,641 transactions, with a turnover of LE 1.72 billion.

Foreign investors were net sellers at LE 160.26 million, while Egyptian and Arab investors were net buyers at LE 155.28 million, and LE 4.97 bmllion, respectively.

Egyptian, Arab and foreign individuals were net buyers at LE 53.02 million, LE 12.69 million, and LE 4.06 million, respectively.

Arab and foreign organizations sold at LE 7.7 million, and LE 164.33 million, respectively, while Egyptian organizations bought at LE 102.26 million.

Ismailia Development and Real Estate Co, Obour Land for Food Industries, and Rowad Tourism (Al Rowad) were top gainers of the session at 14.84 percent, 6.64 percent and 6.32 percent, respectively.

Meanwhile, National Real Estate Bank for Development, El Wadi for International and Investment Development, and El Arabia Engineering Industries were top losers of the session by 20 percent, 20 percent, and 19.91 percent, respectively.

EGX ended Sunday in green as: EGX30 rose 0.48 percent, EGX 50 increased 0.25 percent, EGX 70 hiked 0.83 percent, or 20.04 points, and EGX100 climbed 0.86 percent.