Egyptian, Arab selling keeps EGX in red zone for 4th session in row

CAIRO – 3  March 2021: The Egyptian Exchange (EGX) continued its downtrend for the fourth session in row during Wednesday, losing LE 9.6 billion of market capitalization, amid Egyptian and Arab selling.

The benchmark EGX30 decreased 0.68 percent, or 78.14 points, to end at 11,393.25 points.

The equally weighted index EGX 50 dipped 3.33 percent, or 77.03 points, to end at 2,238.75 points.

The small and mid-cap index EGX 70 dropped 4.47 percent, or 102.42 points, to close at 2,190.9 points, and the broader index EGX 100 lessened 3.68 percent, or 122.52 points, to close at 3,203.62 points.

Market capitalization lost around LE 9.6 billion, recording LE 690.84 billion, compared to LE 700.45 billion in Tuesday’s session.

The trading volume reached 678.68 million shares, traded through 47,801 transactions, with a turnover of LE 1.61 billion. 

Foreign investors were net sellers at LE 43.43 million, while Egyptian and Arab investors were net buyers at LE 22.85 million, and LE 20.58 million, respectively.

Egyptian, and Arab individuals were net sellers at LE 33.13 million, and LE 1.1 million, respectively, while Egyptian individuals were at buyers at LE 888,884.

Egyptian and Arab organizations bought at LE 55.98 million, and LE 21.68 million, respectively, while foreign organization sold at LE 44.32 million.

National Bank of Kuwait- Egypt- NBK, Reacap Financial Investments, and Egyptian International Pharmaceuticals (EIPICO) were top gainers of the session at 5.90 percent, 2.12 percent and 1.93 percent, respectively. 

Meanwhile, National Housing for Professional Syndicates, General Company for Land Reclamation, Development & Reconstruction, and Sharkia National Food were top losers of the session by 9.82 percent, 9.49 percent, and 8.88 percent, respectively.

On Tuesday, EGX ended the session in red, EGX30 inched down 0.43 percent, EGX 50 dipped 0.63 percent, EGX 70 dropped 0.99 percent, and EGX 100 lessened 0.75 percent.