Arab, foreign organizational selling pushes EGX into red zone

CAIRO – 18 May 2020: The Egyptian Exchange (EGX) entered Monday’s session in red, losing LE 3.9 billion of market capitalization, amid Arab and foreign organization’s selling.

The benchmark EGX30 dipped 0.76 percent, or 78.51 points, to close at 10,278.93 points.

The equally weighted index EGX 50 declined 0.88 percent, or 13.25 points, to end at 1,495.26 points.

The small and mid-cap index EGX 70 decreased 0.29 percent, or 3.31 points, to close at 1,122.39 points, and the broader index EGX 100 hiked 0.54 percent, or 9.86 points to 1,826.59 points.

Market capitalization lost LE 3.9 billion, recording LE 544.55 billion, compared to LE 548.45 billion in Sunday’s session.

The trading volume reached 642.45 million shares, traded through 24,648 transactions, with a turnover of LE 180.08 million.

Egyptian investors were buyers at LE 130.04 million, while Arab and foreign investors were net sellers at LE 6.92 million, and LE 123.12 million, respectively.

Egyptian, Arab and foreign individuals were net buyers at LE 22.05 million, LE 1.47 million and LE 2.84 million, respectively.

Egyptian organizations bought at LE 107.99 million, while Arab and foreign organizations sold at LE 8.39 million, and LE 125.95 million, respectively.

Gharbia Islamic Housing Development, Pyramisa Hotels, and National Real Estate Bank for Development were top gainers of the session at 9.78 percent, 9.77 percent and 9.76 percent, respectively.

Meanwhile, Misr Oils & Soap, Egyptian for Tourism Resorts, and Ismailia National Food Industries were top losers of the session by 9.16 percent, 6.27 percent, and 5.35 percent, respectively.

On Sunday, EGX ended the session in green, as: EGX30 rose 0.68 percent, EGX 50 hiked 0.68 percent, EGX 70 increased 1.22 percent, and EGX 100 hiked 0.95 percent.