Arab, foreign selling pushes EGX towards red zone Tuesday, market cap. loses LE5.3B

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Tue, 23 Aug 2022 - 03:36 GMT

BY

Tue, 23 Aug 2022 - 03:36 GMT

EGX- Reuters

EGX- Reuters

CAIRO –  23 August 2022: The Egyptian Exchange (EGX) ended mid-week session in the red zone, losing around LE 5.3 billion of the market capitalization, amid Arab and foreign selling.
 
The benchmark EGX30 dipped 1.06 percent, or 108.35 points, to end at 10,137.89 points.
 
The equally weighted index EGX 50 declined 0.64 percent, or 12.22 points, to end at 1,901.35 points.
 
Moreover, the small and mid-cap index EGX 70 decreased 0.26 percent, or 5.69 points, to close at 2,188.09 points, and the broader index EGX 100 dropped 0.56 percent, or 17.49 points, at 3,130.63 points.
 
Market capitalization lost around LE 5.3 billion, recording LE 684.97 billion, compared to LE 690.27 billion in Monday's session.
 
The trading volume reached 882.19 million shares, traded through 65,604 transactions, with a turnover of LE 1.72 billion.
 
Egyptian investors were net buyers at LE 270.02 million, while Arab and foreign investors were net sellers at LE 2.98 million, and LE 267.03 million, respectively.
 
Arab and foreign individuals were net sellers at LE 3.88 million and LE 1.86 million, respectively, while Egyptian individuals were net buyers at LE 52.09 million.
 
Egyptian and Arab organizations bought at LE 217.92 million, and LE 899,962 respectively, while foreign organizations sold at LE 265.17 million.
 
Dice Sport & Casual Wear, Orascom Development Egypt, and Cairo Pharmaceuticals were top gainers of the session at 11.67 percent, 5.62 percent and 5.16 percent, respectively.
 
Meanwhile, Alexandria National Company for Financial Investment, Egyptians For Investment & Urban Development, and International Co for Investment & Development were top losers of the session by 11.95 percent, 8.44 percent, and 6.05 percent, respectively.
 

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