Egyptian individuals' selling cast shadows on EGX, market cap. loses LE10.39B

CAIRO – 17 September 2019: The Egyptian Exchange (EGX) continued its downtrend during Tuesday for the third session in row, losing about LE 10.39 billion of market capitalization, amid Egyptian individuals selling.

The benchmark EGX 30 declined 1.45 percent, or 217.79 point, to close at 14,752.45 points.

The equally weighted index EGX 50 declined 2.53 percent, or 55.07 points, to end at 2,109.24 points.

The small and mid-cap index EGX 70 inched down 1.43 percent, or 7.88 points, to close at 542.63 points, and the broader index EGX 100 decreased 1.61 percent, or 23.57 points, to 1,443.67 points.

Market capitalization lost LE 10.39 billion, recording LE 738.71 billion, compared to LE 749.1 billion in Monday’s session.

The trading volume reached 266.62 million shares, traded through 30,024 transactions, with a turnover of LE 960.79 million.

Egyptian investors were net sellers at LE 78.89 million, while Arab and foreign investors were net buyers at LE 30.24 million, and LE 48.65 million, respectively.

Arab and foreign individuals were net buyers at LE 1.43 million, and LE 2.76 million, respectively, while Egyptian individuals were net sellers at LE 94.47 million.

Egyptian, Arab, and foreign organizations bought at LE 15.58 million, LE 28.81 million, and LE 45.89 million, respectively.

El Nasr for Manufacturing Agricultural Crops, Arab Pharmaceuticals, and Memphis Pharmaceuticals were top gainers of the session by 17.07 percent, 5.63 percent and 3.61 percent, respectively.

Meanwhile, Alexandria National Company for Financial Investment, Edita Food Industries S.A.E, and Rowad Tourism (Al Rowad) were top losers of the session by 9.45 percent, 9.28 percent, and 8.68 percent, respectively.

EGX ended Monday’s session in red for the second session in row, as EGX 30 dipped 0.35 percent, EGX 50 declined 0.93 percent, EGX 70 inched down 0.63 percent, and EGX 100 decreased 0.47 percent.