EGX ends Wednesday on mixed note, market cap. loses LE 1.8B

CAIRO – 22 July 2020: The Egyptian Exchange (EGX) ended last session of the week on mixed note, losing LE 1.8 billion of market capitalization, amid foreign selling.

EGX  announced Thursday, July 23, to be an official holiday on the occasion of the 68th anniversary of the 23 July Revolution. The bourse will resume work on Sunday, 26 July, it added in a press statement.

The benchmark EGX30 dipped 0.93 percent, or 98.43 points, to close at 10,459.92 points. 

On the other hand, the equally weighted index EGX 50 increased 0.08 percent, or 1.48 points, to end at 1,779.54 points. 

The small and mid-cap index EGX 70 hiked 1.27 percent, or 18.77 points, to close at 1,494.47 points, and the broader index EGX 100 jumped 0.92 percent, or 20.77 points to 2,287.58 points. 

Market capitalization lost LE 1.8 billion, recording LE 576.54 billion, compared to LE 578.38 billion in Tuesday’s session.

The trading volume reached 276.42 million shares, traded through 34,546 transactions, with a turnover of LE 887.38 million. 

Foreign investors were net sellers at LE 104.89 million, while Egyptian and Arab investors were net buyers at LE 97.96 million, and LE 6.94 million, respectively. 

Egyptian, Arab and foreign individuals were net buyers at LE 35.42 million, LE 6.01 million and LE 439,210, respectively.

Foreign organizations sold at LE 105.3 million, while  Egyptian and Arab organizations bought at LE 62.53 million, and LE 920,709, respectively. 

El Nasr for Manufacturing Agricultural Crops, Nasr Company for Civil Works, and Egypt for Pourtly were top gainers of the session at 9.98 percent, 9.87 percent and 9.82 percent, respectively. 

Meanwhile, Mohandes Insurance, Ibnsina Pharma, and Egyptian Gulf Bank were top losers of the session by 5.43 percent, 4.33 percent, and 3.75 percent, respectively. 

EGX ended Tuesday in green as: EGX30 rose 1.71 percent, EGX 50 increased 1.27 percent, EGX 70 hiked 2.05 percent, and EGX 100 jumped 1.94 percent.