Arab, foreign selling pushes EGX into red Monday

CAIRO – 20 January 2020: The Egyptian Exchange (EGX) ended Monday’s session in red, losing LE 5.6 billion of market capitalization, amid and foreign selling.

The benchmark EGX 30 lessened 1.04 percent, or 144.45 points, to close at 13,773.73 points.

The equally weighted index EGX 50 dipped 1.10 percent, or 21.21 points, to end at 1,891.46 points.

The small and mid-cap index EGX 70 declined 0.70 percent, or 3.71 points, to close at 529.89 points, and the broader index EGX 100 decreased 0.76 percent, or 10.55 points to 1,377.31 points.

Market capitalization lost LE 5.6 billion, recording LE 696.37 billion, compared to LE 701.99 billion in Sunday’s session.

The trading volume reached 96.81 million shares, traded through 17,955 transactions, with a turnover of LE 511.44 million.

Egyptian investors were net buyers at LE 56.58 million, while Arab and foreign investors were net sellers at LE 36.65 million, and LE 19.92 million, respectively.

Arab and foreign individuals were net sellers at LE 30.54 million, and LE 2.95 million, respectively, while Egyptian individuals were net buyers at LE 872,249.

Arab and foreign organizations sold at LE 6.11 million, and LE 16.97 million, respectively, while Egyptian organizations bought at LE 55.71 million.

Egypt for Poultry, Modern Company for waterproofing (Bitumode), and Sarwa Capital Holding were top gainers of the session by 9.87 percent, 9.42 percent and 8.28 percent, respectively.

Meanwhile, Rakta Paper Manufacturing, Kafr El Zayat Pesticides, and National Real Estate Bank for Development were top losers of the session by 7.19 percent, 6.56 percent, and 5.60 percent, respectively.

On Sunday, EGX ended the session on a mixed note,as EGX 30 rose 0.68 percent, while EGX 50 dipped 0.66 percent EGX70 dropped 0.41 percent, and EGX 100 inched down 0.21 percent.