EGX stays in red for 4th session, market cap. loses LE3.6B

CAIRO – 9 July 2018: Indices of the Egyptian Exchange (EGX) ended Monday’s session in red, staying in the red zone for the fourth session in row, losing LE 3.58 billion to its market capitalization, amid Egyptian selling.

The benchmark EGX30 dropped 0.34 percent, or 53.91 points, to close at 15,785.93 points.

The equally weighted index EGX50 declined 0.79 percent, or 21.08 points, to reach 2,641.27 points.

The small and mid-cap index EGX70 decreased 1.18 percent, or 9.27 points, to close at 775.44points, and the broader index EGX100 went down 0.83 percent, or 16.49 points, closing at 1,977.41 points.

Market capitalization lost LE 3.58 billion, recording LE 881.01 billion, compared to LE 884.59 billion in Sunday’s session.

The trading volume reached 246.81 million shares, traded through 25,608 transactions, with a turnover of LE 1.79 million.

Egyptian investors were net sellers at LE 832.17 million, while Arab and foreign investors were net buyers at LE 38.56 million and LE 793.61 million, respectively.

Arab individuals were net buyers at LE 3.8 million, while Egyptian and foreign individuals were net sellers at LE 26.73 million and LE 184,653, respectively.

Egyptian organizations sold at LE 805.44 million, while Arab and foreign organizations bought at LE 34.76 million, and LE 793.79 million, respectively.

Wadi Kom Ombo Land Reclamation, Golden Coast Company, and Arab Pharmaceuticals were top gainers of the session by 6.23 percent, 5.19 percent and 4.86 percent, respectively.

On the other hand, Global Telecom Holding, General Silos & Storage, and Atlas For Land Reclamation and Agricultural Processing were top losers of the session by 9.96 percent, 6.70 percent and 5.80 percent, respectively.

At the beginning of Today’s trading, EGX marked a regression, losing LE 12 billion of its market capitalization, affected by the rumors about Global Telecom's failure to sell some of its assets abroad.

EGX stayed in the red zone during the last three consecutive sessions; on Sunday, EGX30 dropped 1.77 percent, EGX50 declined 2.10 percent, EGX70 decreased 1.94 percent, and EGX100 went down 2 percent.