EGX continues its red trend ahead of Eid al-Adha holiday

CAIRO – 19 August 2018: The Egyptian Exchange (EGX) ended Sunday in red, recording the sixths regression in row, just before Eid al-Adha official holiday.

EGX announced Tuesday that the bourse will be off for four days on the occasion of Eid El-Adha, starting from Monday, August 20 to Thursday, August 23, adding that trading will be resumed on Sunday, August 26.

The benchmark EGX30 lost 0.15 percent, or 22.58 points, to close at 15,273.39 points.

The equally weighted index EGX50 declined 0.43 percent, or 10.90 points, to reach 2,512.18 points.

The small and mid-cap index EGX70 decreased 0.31 percent, or 2.28 points, reaching 738 points, and the broader index EGX100 inched down 0.19 percent, or 3.52 points, closing at 1,896.03 points.

Market capitalization lost LE 1.6 billion, recording LE 856.4 billion, compared to LE 858.03 billion in Thursday’s session.

The trading volume reached 125.25 million shares, traded through 11,683 transactions, with a turnover of LE 248.50 million.

Kafr El Zayat Pesticides, Ismailia National Food Industries, and Sharm Dreams Co. for Tourism Investment were top gainers of the session by 7.22 percent, 5.66 percent and 4.72 percent, respectively.

On the other hand, El Arabia Engineering Industries, Egyptian Iron & Steel, and Obour Land for Food Industries were top losers of the session by 8.59 percent, 7.39 percent, and 7.21 percent, respectively.

Arab investors were net buyers at LE 2.82 million, while Egyptian and foreign investors were net sellers at LE 470,282 and LE 2.35 million, respectively.

Egyptian and foreign individuals were net sellers at LE 7.34 million and LE 145,888, respectively, while Arab individuals were net buyers LE 1.94 million.

Egyptian and Arab organizations were net buyers at LE 6.8 million and LE 879,815, respectively, while foreign organizations were net sellers at LE 2.2 million.

EGX ended Thursday’s session in red, as EGX30 slipped 0.40 points, EGX50 declined 0.10 percent, EGX70 decreased 0.02 percent, and EGX100 inched down 0.28 percent.