EGX loses LE 1.8B of market cap. Wednesday

CAIRO – 31 July 2019: The Egyptian Exchange (EGX) ended Wednesday’s session on mixed note, losing about LE 1.8 billion of market capitalization, amid Egyptian and Arab individuals selling.

The benchmark EGX 30 rose 0.21 percent, or 27.84 point, to close at 13,392.47 points.

The equally weighted index EGX 50 lessened 0.68 percent, or 13.39 points, to close at 1,950.52 points.

The small and mid-cap index EGX 70 declined 0.56 percent, or 2.91 points, to close at 520.28 points, and the broader index EGX 100 dipped 0.42 percent, or 5.7 point, to 1,347.02 points.

Market capitalization lost LE 1.8 billion, recording LE 715.12 billion, compared to LE 716.96 billion in Tuesday’s session.

The trading volume reached 151.28 million shares, traded through 16,799 transactions, with a turnover of LE 625.87 million.

Foreign investors were net buyers at LE 73.31 million, while Egyptian and Arab investors were net sellers at LE 36.62 million, and LE 36.69 million, respectively.

Egyptian and Arab individuals were net buyers at LE 1.65 million, and LE 525,255, respectively, while foreign individuals were net sellers at LE 16.59 million.

Egyptian and Arab organizations sold at LE 38.27 million, and LE 37.21 million, respectively, while foreign organizations bought at LE 89.91 million.

The Arab Dairy Products Co. Arab Dairy - Panda, Northern Upper Egypt Development & Agricultural Production, and Maridive & oil services were top gainers of the session by 9.93 percent, 6.37 percent and 4.26 percent, respectively.

Meanwhile, El Arabia for Land Reclamation, Citadel Capital - Common Shares, and Wadi Kom Ombo Land Reclamation were top losers of the session by 9.91 percent, 9.61 percent, and 9.55 percent, respectively.

EGX ended Tuesday’s session in red, as EGX30 declined 0.43 percent, EGX 70 dipped 0.26 percent, and EGX 100 lessened 0.29 percent.