Foreign organizations purchases keep EGX in green for 2nd session in row

CAIRO – 4 August 2019: The Egyptian Exchange (EGX) stayed in the green zone for the second consecutive session, adding about LE 2.4 billion to market capitalization, amid foreign organizations purchases.

The benchmark EGX 30 rose 0.67 percent, or 90.33 point, to close at 13,616.26 points.

The equally weighted index EGX 50 hiked 0.66 percent, or 12.93 points, to close at 1,983.2 points.

The small and mid-cap index EGX 70 climbed 0.06 percent, or 0.3 points, to close at 522.42 points, and the broader index EGX 100 jumped 0.37 percent, or 5.03 point, to 1,364.94 points.

Market capitalization gained LE 2.4 billion, recording LE 720.02 billion, compared to LE 717.62 billion in Thursday’s session.

The trading volume reached 164 million shares, traded through 14,836 transactions, with a turnover of LE 445.17 million.

Foreign investors were net buyers at LE 43.87 million, while Egyptian and Arab investors were net sellers at LE 28.68 million, and LE 15.19 million, respectively.

Egyptian, Arab and foreign individuals were net sellers at LE 27.71 million, LE 8.8 million and LE 4.82 million, respectively.

Egyptian and Arab organizations sold at LE 964,201, and LE 6.38 million, respectively, while foreign organizations bought at LE 48.69 million.

Egyptian International Tourism Projects, Ismailia National Food Industries, and National Real Estate Bank for Development were top gainers of the session by 8.37 percent, 7.79 percent and 6.80 percent, respectively.

Meanwhile, Alexandria Cement, Sabaa International Company for Pharmaceutical and Chemical and Citadel Capital - Common Shares were top losers of the session by 9.57 percent, 9.18 percent, and 8 percent, respectively.

EGX ended Thursday’s session in green, as EGX30 rose 1 percent, EGX50 hiked 1.01 percent, EGX 70 increased 0.35 percent, and EGX 100 limbed 0.96 percent.