CAIRO - 13 March 2024: The Egyptian Exchange (EGX) ended Wednesday in the red zone due to profit-taking operations after Egyptian stocks reached record levels in the past few days, losing around LE 89.62 billion of the market capitalization, amid foreign selling.
The benchmark EGX30 decreased 5.04 percent, or 1,647.73 points, to end at 31,013.88 points.
The small and mid-cap index EGX 70 dipped 3.40 percent, or 237.87 points, to close at 6,760.17 points.
Furthermore, the broader index EGX 100 declined 3.75 percent, or 378.35 points, to 9,718.59 points.
Market capitalization lost around LE 89.62 billion, recording LE 2.050 trillion, compared to LE 2.139 trillion in Tuesday’s session.
The trading volume reached 686.44 million shares, traded through 144,366 transactions, with a turnover of LE 5.48 billion.
Foreign investors were net sellers at LE 758.31 million, while Egyptian and Arab investors were net buyers at LE 710.77 million, and LE 47.54 million, respectively.
Development & Engineering Consultants, Raya Contact Center, and Egyptian Iron & Steel were top gainers of the session at 10.91 percent, 7.03 percent, and 4.97 percent, respectively.
Meanwhile, General Company for Land Reclamation, Development & Reconstruction, Memphis Pharmaceuticals, and El Nasr Clothes & Textiles (Kabo) were top losers of the session by 13.46 percent, 11.58 percent, and 10.07 percent, respectively.
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