Profit picking processes push EGX into Red

CAIRO – 19 March 2018: The Egyptian Exchange (EGX) ended Monday in Red within profit picking processes, amid Egyptian and Arab selling.

The benchmark EGX30 slipped 0.57 percent, or 98.9 points, to end at 17,172.13 points after passing the resistance point of 17,200 by the end of Sunday’s session.

The equally weighted index EGX50 decreased 0.36 percent, or 10.22 points, to reach 2863.06 points.

The small and mid-cap index EGX70 went down 0.67 percent, or 6.03 points, ending at 888.61 points. The broader index EGX100 edged down 0.29 percent, or 6.49 points, to close at 2266.57 points.

Market Capitalization lost LE 6.3 billion, recording LE 974.65 billion ($55.33 billion), compared to LE 980.99 billion in Sunday’s session.

The trading volume reached 453.09 million shares traded through 37,491 transactions with a turnover of LE 2.09 billion.

Egyptian and Arab investors were net sellers at LE 36.92 million and LE 29.87 million, respectively, while foreign investors were net buyers at LE 66.79 million.

Egyptian and Arab individuals were net sellers at LE 616,671 and LE 13.06 million, respectively, while foreign individuals were net buyers at LE 12.95 million.

Egyptian and Arab organizations sold at LE 36.3 million and LE 16.8 million, respectively, while foreign organizations bought at LE 53.84 million.

Canal Shipping Agencies, Egypt Aluminum, and Arab Aluminum were top gainers of the session by 9.85 percent, 7.47 percent, and 5.55 percent, respectively.

While National Drilling, Grand Investment Capital, and Alexandria New Medical Center were top losers of the session by 88.91 percent, 8.42 percent, and 8.30 percent, respectively.

EGX ended Sunday on a mixed note as EGX30 rose 1.60 percent, EGX50 increased 1.16 percent, EGX100 went up 0.05 percent, while EGX70 decreased 0.58 percent.