EGX retreats Wednesday, market cap. loses LE29.3B

CAIRO – 19 September 2018: The indices of Egyptian Exchange (EGX) witnessed a sharp drop by the end of Wednesday’s session, and market capitalization lost LE 29.3 billion, amid Egyptian selling.

The benchmark EGX30 dropped 3.79 percent, or 555.35 points, to close at 14,098.56 points.

The equally weighted index EGX50 declined 4.98 percent, or 115.77 points, to reach 2,209.78 points.

The small and mid-cap index EGX70 fell 3.65 percent, or 26.30 points, reaching 694.52 points, and the broader index EGX100 drew back 3.88 percent, or 71.41 points, closing at 1,768.19 points.

Market capitalization lost LE 29.3 billion, recording LE 785.65 billion, compared to LE 814.96 billion in Tuesday’s session.

The trading volume reached 270.05 million shares, traded through 27,435 transactions, with a turnover of LE 966.64 million.

Egyptians Real Estate Fund Certificates, GB AUTO, and Oriental Weavers were top gainers of the session by 5.54 percent, 2.44 percent and 1.68 percent, respectively.

On the other hand, TransOceans Tours, Amer Group Holding, and Gulf Canadian Real Estate Investment Co. were top losers of the session by 14.29 percent, 10 percent, and 9.96 percent, respectively.

Egyptian investors were net sellers at LE 111.64 million, while Arab and foreign investors were net buyers at LE 55.86 million and LE 55.78 million, respectively.

Egyptian, Arab and foreign individuals were net sellers at LE 112.57 million, LE 10.19 million, and LE 3.34 million, respectively.

Egyptian, Arab and foreign organizations bought at LE 928,319, LE 66.05 million, and LE 59.12 million, respectively.

EGX ended Tuesday session on mixed note, as EGX30 rose 0.02 percent, while EGX50 inched down 0.46 percent, EGX70 dropped 0.37 percent, and EGX100 decreased 0.21 percent.