EGX flags in red Thursday, market cap. loses LE 5.75B

CAIRO – 16 July 2020: The Egyptian Exchange (EGX) continues trading in the red zone during Thursday, losing LE 5.75 billion of market capitalization, amid foreign selling.

The benchmark EGX30 dropped 1.66 percent, or 176.22 points, to close at 10,441.2 points. 

The equally weighted index EGX 50 decreased 1.78 percent, or 31.63 points, to end at 1,743.72points. 

The small and mid-cap index EGX 70 declined 2.45 percent, or 35.85 points, to close at 1,425.94points, and the broader index EGX 100 dipped 2.27 percent, or 51.26 points to 2,202.82 points. 

Market capitalization lost LE 5.75 billion, recording LE 574.93 billion, compared to LE 580.68 billion in Wednesday’s session.

The trading volume reached 296.06 million shares, traded through 34,564 transactions, with a turnover of LE 817.14 million. 

Foreign investors were net sellers at LE 57.8 million, while Egyptian and Arab investors were net buyers at LE 38.04 million, and LE 19.76 million, respectively. 

Egyptian, Arab and foreign individuals were net buyers at LE 10.55 million, LE 15.68 million and LE 459,677, respectively.

Foreign organizations sold at LE 58.26 million, while  Egyptian and Arab organizations bought at LE 27.48 million, and LE 4.09 million, respectively. 

Arab Pharmaceuticals, El Ahram Co. for Printing and Packing, and Raya Holding for Financial Investments were top gainers of the session at 9.46 percent, 8.72 percent and 7.20 percent, respectively. 

Meanwhile, South Cairo & Giza Mills & Bakeries, Egyptian Real Estate Group, and El Obour Real Estate Investment were top losers of the session by 9.72 percent 9.32 percent, and 9.20 percent, respectively. 

EGX ended Wednesday in red as: EGX30 dropped 2.36 percent, EGX 50 decreased 3.43 percent, EGX 70 dipped 3.85 percent, and EGX 100 lessened 3.73 percent.