EGX ends Wednesday in green, market cap. gains LE2.5B

CAIRO – 29 July 2020: The Egyptian Exchange (EGX) ended last session before Eid Al-Adha vacation in green, adding LE 2.5 billion to market capitalization, amid Egyptian purchases.

The Egyptian Exchange (EGX) and the Central Bank of Egypt will be off for five days, starting from Thursday, July 30 till Monday, August 3, on the occasion of Eid Al-Adha holiday.

Eid al-Adha marks of respect to the willingness of Ibrahim to sacrifice his son Ismael as an act of obedience to God's command. That’s why, it’s also called the "Festival of the Sacrifice". It is the second of two Islamic holidays celebrated worldwide each year, and considered the holier of the two. Moreover, Muslims performs their Hajj, which is an annual Islamic pilgrimage to Mecca, Saudi Arabia, during Eid Al-Adha.  

The benchmark EGX30 rose 0.29 percent, or 30.62 points, to close at 10,599.46 points. 

The equally weighted index EGX 50 increased 1.4 percent, or 25.04 points, to end at 1,811.08 points. 

The small and mid-cap index EGX 70 hiked 1.39 percent, or 21.05 points, to close at 1,535.61 points, and the broader index EGX 100 jumped 1.36 percent, or 31.53 points to 2,352.47 points. 

Market capitalization gained LE 2.5 billion, recording LE 585.46 billion, compared to LE 582.95 billion in Tuesday’s session.

The trading volume reached 531.72 million shares, traded through 35,451 transactions, with a turnover of LE 2.08 billion. 

Arab investors were net buyers at LE 234.59 million, while Arab and foreign investors were net sellers at LE 230.43 million, and LE 4.16 million, respectively. 

Egyptian, Arab and foreign individuals were net sellers at LE 268.75 million, LE 44.29 million and LE 10.25 million, respectively.

Egyptian, Arab and foreign organizations bought at LE 38.32 million, LE 278.88 million, and LE 6.09million, respectively. 

Nasr Company for Civil Works, Gharbia Islamic Housing Development, and Emerald Real Estate Investment were top gainers of the session at 9.93 percent, 9.65 percent and 8.70 percent, respectively. 

Meanwhile, Delta Construction & Rebuilding, Ismailia National Food Industries, and Egyptian International Pharmaceuticals (EIPICO) were top losers of the session by 6.01 percent, 4.48 percent, and 4.34 percent, respectively. 

EGX ended Tuesday in red as: EGX30 dipped 0.06 percent, EGX 50 decreased 0.24 percent, EGX 70 declined 0.31 percent, and EGX 100 dropped 0.19 percent.