EGX loses LE 15.25B of market cap. Wednesday

CAIRO – 15 July 2020: The Egyptian Exchange (EGX) ended Wednesday in red, losing LE 15.25 billion of market capitalization, amid Egyptian and foreign selling.

The benchmark EGX30 dropped 2.36 percent, or 256.11 points, to close at 10,617.42 points. 

The equally weighted index EGX 50 decreased 3.43 percent, or 63.15 points, to end at 1,775.35 points. 

The small and mid-cap index EGX 70 declined 3.85 percent, or 58.56 points, to close at 1,461.79 points, and the broader index EGX 100 dipped 3.73 percent, or 87.23 points to 2,254.08 points. 

Market capitalization lost LE 15.25 billion, recording LE 580.68 billion, compared to LE 595.93 billion in Tuesday’s session. 

The trading volume reached 596.07 million shares, traded through 56,835 transactions, with a turnover of LE 1.53 billion. 

Arab investors were net buyers at LE 61.98 million, while Egyptian and foreign investors were net sellers at LE 55.83 million, and LE 6.16 million, respectively. 

Arab individuals were net buyers at LE 31.22 million while Egyptian and foreign individuals were net sellers at LE 172.34 million, and LE 32.27 million, respectively.

Egyptian, Arab and foreign organizations bought at LE 116.51 million, LE 30.76 million, and LE 26.11million, respectively. 

Arab Co. for Asset Management and Development, El Shams Housing & Urbanization, and Rubex International for Plastic and Acrylic Manufacturing were top gainers of the session at 6.10 percent, 5.88 percent and 5.75 percent, respectively. 

Meanwhile, GMC Group for Industrial, Commercial & Financial Investments, Lecico Egypt, and Arab Aluminum were top losers of the session by 9.86 percent 9.16 percent, and 9.06 percent, respectively. 

EGX ended Tuesday in red as: EGX30 dropped 1.22 percent, EGX 50 decreased 1.67 percent, EGX 70 dipped 1.89 percent, and EGX 100 lessened 1.84 percent.