EGX loses LE2.02B of market capitalization

CAIRO - 13 November 2019: The Egyptian Exchange (EGX) ended Wednesday’s session in red, losing LE 2.02 billion of market capitalization, amid Arab and foreign selling.

The benchmark EGX 30 declined 0.42 percent, or 62.29 points, to close at 14,607.69 points.

The equally weighted index EGX 50 decreased 0.30 percent, or 6.25 points, to end at 2,110.94 points.

The small and mid-cap index EGX 70 dipped 0.10 percent, or 0.57 points, to close at 547.5 points, and the broader index EGX 100 dropped 0.20 percent, or 2.88 points, to 1,451.05 points.

Market capitalization lost LE 2.02 billion, recording LE 730.17 billion, compared to LE 732.19 billion in Tuesday’s session.

The trading volume reached 111.57 million shares, traded through 18,115 transactions, with a turnover of LE 610.86 million.

Egyptian investors were net buyers at LE 66 million, while Arab and foreign investors were net sellers at LE 9.94 million, and LE 56.07 million, respectively.

Egyptian and Arab individuals were net buyers at LE 35.73 million,, and LE 15.18 million, respectively, while foreign individuals were net sellers LE 531,371.

Arab and foreign organizations sold at LE 25.11 million, and LE 55.54 million, respectively, while Egyptian organizations bought at LE 30.28 million.

Arab Pharmaceuticals, Egyptian Starch & Glucose, and Cairo Poultry were top gainers of the session by 7.98 percent, 6.65 percent and 5.37 percent, respectively.

Meanwhile, Egyptian Satellites (NileSat), Gulf Canadian Real Estate Investment Co., and Naeem Holding were top losers of the session by 5.11 percent, 3.75 percent, and 3.61 percent, respectively.

Sunday, Nov. 10, was an official holiday for EGX on the anniversary of Prophet Muhammad’s birthday.