Arab selling pushes EGX into red, market cap. loses LE 4.6B

CAIRO – 24 December 2019: The Egyptian Exchange (EGX) ended Tuesday’s session in red, and market capitalization lost LE 4.6 billion, amid Arab selling.

The benchmark EGX 30 dipped 0.70 percent, or 97 points, to close at 13,805.43 points.

The equally weighted index EGX 50 decreased 0.89 percent, or 17.42 points, to end at 1,945.01 points.

Moreover, the small and mid-cap index EGX 70 dropped 0.36 percent, or 1.92 points, to close at 526.42 points, the broader index EGX 100 inched down 0.48 percent, or 6.68 points to 1,384.06 points.

Market capitalization lost LE 4.6 billion, recording LE 697.04 billion, compared to LE 701.72 billion in Monday’s session.

The trading volume reached 65.94 million shares, traded through 12,550 transactions, with a turnover of LE 382.31 million.

Arab investors were net sellers at LE 8.62 million, while Egyptian and foreign investors were net buyers at LE 6.27 million, and LE 2.35 million, respectively.

Egyptian and Arab individuals were net buyers at LE 12.13 million, and LE 12.53 million, respectively, while foreign individuals were net sellers at LE 374,079.

Egyptian, and Arab organizations bought at LE 5.85 million and LE 21.16 million, respectively, while foreign organizations sold at LE 2.72 million.

Egyptians Housing Development & Reconstruction, Alexandria National Company for Financial Investment, and Rakta Paper Manufacturing were top gainers of the session by 6.42 percent, 6.30 percent and 3.98 percent, respectively.

Meanwhile, EL Ezz Aldekhela Steel - Alexandria, Ibnsina Pharma, and Grand Investment Capital were top losers of the session by 6.40 percent, 5.60 percent, and 4.53 percent, respectively.

EGX ended Monday’s session on mixed note, as: EGX 30 hiked 0.07 percent, while EGX50 decreased 0.59 percent, EGX70 dipped 0.35 percent, and EGX 70 inched down 0.31 percent.