EGX enters red zone Thursday, market cap. loses LE9.9B

CAIRO – 7 May 2020: The Egyptian Exchange (EGX) ended Thursday’s session in red, losing LE 9.9 billion of market capitalization, amid Arab and foreign selling.

The benchmark EGX 30 dipped 1.14 percent, or 117.22 points, to close at 10,176.73 points.

The equally weighted index EGX 50 dropped 2.89 percent, or 45.35 points, to end at 1,524.27 points.

The small and mid-cap index EGX 70 declined 3.69 percent, or 44.25 points, to close at 1,154.42 points, and the broader index EGX 100 lessened 2.98 percent, or 33.36 points to 1,084.95 points.

Market capitalization lost LE 9.9 billion, recording LE 550.36 billion, compared to LE 560.3 billion in Wednesday’s session.

The trading volume reached 344.44 million shares, traded through 37,386 transactions, with a turnover of LE 1 billion.

Egyptian investors were buyers at LE 29.48 million, while Arab and foreign investors were net sellers at LE 11.94 million, and LE 17.54 million, respectively.

Egyptian, Arab and foreign individuals were net sellers at LE 11.17 million, LE 8.81 million and LE 4.67 million, respectively.

Egyptian organizations bought at LE 40.65 million, while Arab and foreign organizations sold at LE 3.13 million, and LE 12.87 million, respectively.

Dice Sport & Casual Wear, General Silos & Storage, and Ismailia National Food Industries were top gainers of the session at 10.95 percent, 9.99 percent and 5.79 percent, respectively.

Meanwhile, Osool ESB Securities Brokerage, El Ahram Co. for Printing and Packing, and Alexandria Spinning & Weaving (SPINALEX) were top losers of the session by 9.95 percent, 9.62 percent, and 9.50 percent, respectively.

On Wednesday, EGX ended the session in green, as: EGX 30 hiked 1.04 percent, EGX 50 rose 1.46 percent, EGX 70 jumped 1.98 percent, and EGX 100 climbed 1.02 percent.