EGX flags in red during Wednesday's session, market cap. loses LE5.23B

CAIRO – 16 December 2020: The Egyptian Exchange (EGX) traded in red during Wednesday’s session, losing LE 5.23 million of market capitalization, amid foreign selling.

The benchmark EGX30 dropped 0.67 percent, or 74.59 points, to close at 10,983.03 points.

The equally weighted index EGX 50 declined 1.69 percent, or 38.39 points, to end at 2,227.18 points.

Moreover, the small and mid-cap index EGX 70 dipped 2 percent, or 42.47 points, to close at 2,084.07 points, and the broader index EGX 100 lessened 1.79 percent, or 55.19 points to 3,026.16 points.

Market capitalization lost around LE 5.23 billion, recording LE 649.5 billion, compared to LE 654.73 billion in Tuesday’s session.

The trading volume reached 712.01 million shares, traded through 46,449 transactions, with a turnover of LE 1.52 billion. 

Foreign investors were net sellers at LE 12.93 million, while Egyptian and Arab investors were net buyers at LE 6.68 million, and LE 6.25 million, respectively. 

Egyptian, and foreign individuals were net sellers at LE 13.9 million, and LE 908,988, respectively, while Arab individuals were net buyers at LE 9.19 million.

Arab, and foreign organizations sold at LE 2.95 million, and LE 12.02 million, respectively, while Egyptian organizations bought LE 20.62 million.

Medical Packaging Company, International Agricultural Products, and El Kahera Housing were top gainers of the session at 5.52 percent, 5.51 percent and 4.77 percent, respectively. 

Meanwhile, Nasr Company for Civil Works, Egyptians Housing Development & Reconstruction, and Raya Holding for Financial Investments were top losers of the session by 17.27  percent, 7.23 percent, and 7.10 percent, respectively.

On Tuesday, EGX ended trading on mixed note, as EGX30 inched up 0.09 percent, while EGX70 dipped 0.15 percent, and EGX100 declined 0.14 percent.