Arab, foreign selling keep EGX in red zone for 3rd session in row

CAIRO - 10 December 2023: The Egyptian Exchange (EGX) traded in the red zone for the third consecutive session during Sunday, losing around LE 36.54 billion of market capitalization, amid Arab and foreign selling.

 

The benchmark EGX30 fell 2.01 percent, or 496.33 points, to end at 24,189.83 points.

 

The small and mid-cap index EGX 70 dipped 1.74 percent, or 91.76 points, to close at 5,194.73 points.

 

The broader index EGX 100 declined 1.76 percent, or 134.89 points, to 7,547.07 points.

 

Market capitalization lost around LE 36.54 billion, recording LE 1.626 trillion, compared to around LE 1.663 trillion in Thursday’s session.

 

The trading volume reached 1.43 million shares, traded through 137,200 transactions, with a turnover of LE 3.43 billion.

 

Egyptian investors were net buyers at LE 89.61 million, while Arab and foreign investors were net sellers at LE 62.13 million, and LE 27.48 million, respectively.

 

International Agricultural Products, Misr Beni Suef Cement, and General Silos & Storage were top gainers of the session at 19.99 percent, 10.60 percent and 8.30 percent, respectively.

 

Meanwhile, Taqa Arabia, United Arab Shipping, and Misr Fertilizers Production Company - Mopco were top losers of the session by 12.15 percent, 11.09 percent, and 10.07 percent, respectively.