EGX flags in red during May

CAIRO - 1 June 2020: The Egyptian Exchange (EGX) flagged in red during May, recording a market capitalization of LE 548.7 billion, amid Arab and foreign selling.

The benchmark EGX30 declined 3.16 percent or 333.9 points to close May at 10,220.14 points, compared to 10,554.04 points in April.

The small and mid-cap index EGX70 dipped 5.33 percent, or 65.36 points, to close at 1,159.99 points, compared to 1,225.35 points at the last session of May.

The broader index EGX100 lessened 6.14 percent, or 122.5 point; to record 1,872 points, from 1,994.50 points by the end of the previous month.

Moreover, the equally weighted index EGX 50 decreased 7.22 percent, or 117.91 points, to end the month at 1,515.31 points, down from 1,633.22 points in prior month.

As per market capitalization, EGX recorded LE 548.7 billion, compared to LE 571.4 billion in April, which marks a decrease of 3.98 percent.

According to EGX data, the total value traded recorded LE 53.2 billion, while the total volume traded reached 5,167 million securities executed over 454 thousand transactions this month.

For the last month, the total value traded recorded LE 64.9 billion, while the total volume traded reached 6,569 million securities executed over 614 thousand transactions.

Stocks trading accounted for 27.4 percent of the total value traded of the main market, while the remaining 72.60 percent were captured by bonds over the month.

As per listed stocks including Nilex recorded LE 13.96 billion through trading on 4.36 billion shares over 450,938 transactions compared to LE 20.54 billion through trading on 6.26 billion shares over 609,808 transactions in April.

Egyptians represented 70 percent of the value traded in listed stocks after excluding deals during the period. Foreigners accounted for 25.2 percent, while Arabs captured 4.8 percent.

Foreigners were net sellers, with a net of LE 882.2 million, and Arabs were net sellers, with a net of LE 129.1 million, after excluding deals in listed stocks.

Since the beginning of the year Egyptians represented 66.7 percent of the value traded in listed stocks after excluding deals, Foreigners accounted for 25.9 percent, while Arabs captured 7.4 percent.

Foreigners were net sellers by LE 7,487.5 million, and Arabs were net sellers by LE 1,441.5 million, after excluding deals in listed stocks during this year since started.