Arab, foreign selling push EGX into red zone, market cap. loses LE4.18B

CAIRO –  22 June 2022: The Egyptian Exchange (EGX) ended Wednesday’s session in the red zone, losing around LE 4.18 billion of market capitalization, amid Arab and foreign sellings.

 

 

The benchmark EGX30 slipped 0.88 percent, or 84.98 points, to end at 9,612.9 points.

 

 

The equally weighted index EGX 50 decreased 0.72 percent, or 2.41 points, to end at 1,713.54 points.

 

 

The small and mid-cap index EGX 70 declined 0.68 percent, or 12.39 points, to close at 1,800.5 points, and the broader index EGX 100 dropped 0.72 percent, or 19.32 points, to close at 2,661.55 points.

 

 

Market capitalization lost around LE 4.18 billion, recording LE 642.37 billion, compared to LE 646.55 billion in Tuesday’s session.

 

 

The trading volume reached 235.8 million shares, traded through 22,507 transactions, with a turnover of LE 431.08 million.

 

 

Egyptian investors were net buyers at LE 66.38 million, while Arab and foreign investors were net sellers at LE 9.64 million, and LE 56.74 million, respectively.

 

 

Egyptian, and Arab individuals were net sellers at LE 5.88 million, and LE 1.87 million, respectively, while foreign individuals were net buyers at LE 4.54 million.

 

 

Arab and foreign organizations sold at LE 7.76 million, and LE 61.28 million, respectively, while Egyptian organizations bought at LE 72.27 million.

 

 

Misr Hotels, General Silos & Storage, and Arab Valves Company were top gainers of the session at 4.03 percent, 3.14 percent and 3.07 percent, respectively.

 

 

Meanwhile, the Arab Dairy Products Co. Arab Dairy - Panda, AJWA for Food Industries company Egypt, and Marseille Almasreia Alkhalegeya for Holding Investment were top losers of the session by 10.22 percent, 5.30 percent, and 4.04 percent, respectively.