EGX30 leaves 16,000 points, market cap. loses LE 8.17B

CAIRO – 6 June 2018: The Egyptian Exchange (EGX) continues its downtrend for the third session in a row, losing LE 8.17 billion ($455.74 million) of market capitalization; amid Egyptian and Arab selling.

The benchmark EGX30 slipped 0.71 percent, or 113.20 points, to close at 15,908.91 points.

The equally weighted index EGX50 declined 1.91 percent, or 52.21 points, to reach 2,683.12 points.

Meanwhile, the small and mid-cap index EGX70 dropped 1.97 percent, or 16.11 points, closing at 802.58 points, and the broader index EGX100 decreased 1.53 percent, or 31.83 points, to close at 2,053.18 points.

Market capitalization lost LE 8.17 billion, recording LE 903.96 billion, compared to LE 912.13 billion in Tuesday’s session.

The trading volume reached 180.89 million shares, traded through 21,623 transactions, with a turnover of LE 833.47 million.

Foreign investors were net buyers at LE 79.28 million, while Egyptian and Arab investors were net sellers at LE 72.88 million and LE 79.28 million, respectively.

Egyptian, Arab and foreign individuals sold at LE 79.46 million, LE 10.12 million and LE 1.2 million, respectively.

Egyptian, Arab and foreign organizations were net buyers at LE 3.58 million, LE 3.72 and LE 80.48 million, respectively.

Sues Canal Company for Technology Settling, Ezz Steel, and Minapharm Pharmaceuticals were top gainers of the session by 9.53 percent, 6.19 percent and 3.05 percent, respectively.

On the other hand, Delta Construction & Rebuilding, Prime Holding, and General Company for Land Reclamation, Sharkia National Food were top losers of the session by 9.62 percent, 9.26 percent and 9.06 percent, respectively.

The EGX ended Monday’s session in red, as EGX30 decreased 2.33 percent, EGX50 dropped 2.20 percent, EGX100 went down 1.65 percent, and EGX70 declined 1.57 percent.

Trading on the EGX during the holy month of Ramadan is from 10 a.m. to 1:30 p.m. (CLT).