EGX continues losses for 3rd session in row, market cap. Loses LE 21.83B

CAIRO – 24 September 2019: The Egyptian Exchange (EGX) continues its downtrend for the third session this week, losing around LE 21.83 billion of its market capitalization, amid foreign selling.

The benchmark EGX 30 dipped 4.24 percent, or 582.99 point, to close at 13,170.2 points.

The equally weighted index EGX 50 declined 3.82 percent, or 73.52 points, to end at 1,852.45 points.

The small and mid-cap index EGX 70 lessened 3.36 percent, or 16.79 points, to close at 483.14 points, and the broader index EGX 100 decreased 3.07 percent, or 40.98 points, to 1,293.67 points.

Market capitalization lost LE 21.83 billion, recording LE 672.28 billion, compared to LE 694.11 billion in Monday’s session.

The trading volume reached 304.66 million shares, traded through 29,040 transactions, with a turnover of LE 1.07 billion.

Foreign investors were net sellers at LE 273.93 million, while Egyptian and Arab investors were net buyers at LE 244.47 million, and LE 29.46 million, respectively.

Egyptian and Arab individuals were net buyers at LE 46.52 million, and LE 3.59 million, respectively, while foreign individuals were net sellers at LE 3.59 million.

Egyptian and Arab organizations bought at LE 197.95 million, and LE 20.74 million, respectively, while foreign organizations sold at LE 270.33 million.

Arabian Food Industries (DOMTY), Orascom Construction PLC, and El Ezz Porcelain (Gemma) were top gainers of the session by 2 percent 1.23 percent and 1.03 percent, respectively.

Meanwhile, Alexandria Cement, El Obour Real Estate Investment, and Arab Valves Company were top losers of the session by 9.92 percent, 9.87 percent, and 9.85 percent, respectively.

In Monday, EGX ended session in red for the second time in row, as EGX30 dropped 1.47 percent, EGX50 lessened 2.07 percent, EGX70 decreased 1.79 percent, and EGX100 dipped 1.72 percent.