Egyptian, Arab selling keeps EGX in red zone for 3rd session in row

CAIRO – 20 June 2019: The Egyptian Exchange (EGX) ended Thursday in red zone for the third session in row, losing about LE 3.18 billion of market capitalization, amid Egyptian and Arab selling.

The benchmark EGX 30 declined 0.63 percent, or 88.76 points, to close at 14,043.42 points.

The equally weighted index EGX 50 decreased 0.86 percent, or 17.95 points, to close at 2,072.9 points.

The small and mid-cap index EGX 70 decreased 0.25 percent, or 1.5 points, to close at 602.35 points, and the broader index EGX 100 inched down 0.32 percent, or 4.87 point, to 1,536.89 points.

Market capitalization lost LE 3.18 billion, recording LE 750.25 billion, compared to LE 753.34 billion in Wednesday's session.

The trading volume reached 131.78 million shares, traded through 17,265 transactions, with a turnover of LE 684.78 million.

Foreign investors were net buyers at LE 81.68 million, while Egyptian and Arab investors were net sellers at LE 40.82 million, and LE 40.86 million, respectively.

Egyptian, Arab and foreign individuals were net buyers at LE 13.41 million, LE 7.23 million and LE 1.78 million, respectively.

Egyptian and Arab organizations sold at LE 54.23 million and LE 48.09 million, respectively, while foreign organizations bought at LE 79.9 million.

National Real Estate Bank for Development, El Arabia Engineering Industries, and Assiut Islamic Trading were top gainers of the session by 8.29 percent, 5.42 percent and 4.57 percent, respectively.

Meanwhile, Alexandria National Company for Financial Investment, EArabia Investments Holding, and Sabaa International Company for Pharmaceutical and Chemical were top losers of the session by 9.71 percent, 7.53 percent, and 6.44 percent, respectively.

EGX ended Wednesday's session in red for the second session in row, as EGX30 declined 0.50 percent, EGX50 decreased 0.65 percent, EGX70 dropped 0.07 percent, and EGX100 inched down 0.15 percent.