Egyptian individuals selling pushes EGX into red

CAIRO – 28 July 2019: The Egyptian Exchange (EGX) started the week in red, losing about LE 2.03 billion of market capitalization during Sunday’s session, amid Egyptian individuals selling.

The benchmark EGX 30 dropped 0.37 percent, or 50.06 point, to close at 13,460 points.

The equally weighted index EGX 50 lessened 0.18 percent, or 3.64 points, to close at 2,001.44 points.

The small and mid-cap index EGX 70 declined 1.17 percent, or 6.22 points, to close at 526.74 points, and the broader index EGX 100 fell 0.96 percent, or 13.23 point, to 1,362.54 points.

Market capitalization lost LE 2.03 billion, recording LE 723.29 billion, compared to LE 725.32 billion in Thursday’s session.

The trading volume reached 71.69 million shares, traded through 10,575 transactions, with a turnover of LE 285.55 million.

Egyptian investors were net sellers at LE 17.95 million, while Arab and foreign investors were net buyers at LE 10.1 million, and LE 7.86 million, respectively.

Arab and foreign individuals were net buyers at LE 449,485, and LE 69,427, respectively, while Egyptian individuals were net sellers at LE 33.88 million.

Egyptian, Arab and foreign organizations bought at LE 15.93 million, LE 9.64 million and LE 7.79 million, respectively.

Misr Chemical Industries, Heliopolis Housing, and Sinai Cement were top gainers of the session by 5.99 percent, 5.53 percent and 5.07 percent, respectively.

Meanwhile, Arab Polvara Spinning & Weaving Co., Gulf Canadian Real Estate Investment Co., and Arab Aluminum were top losers of the session by 7.08 percent, 5.47 percent, and 5.18 percent, respectively.

EGX ended Thursday’s session on mixed note, as EGX30 declined 0.79 percent, EGX 50 decreased 0.40 percent, EGX 100 dipped 0.08 percent, while EGX 70 hiked 0.09 percent.