EGX ends week in red, turnover loses LE 5M

CAIRO – 18 August 2017: The Egyptian Exchange (EGX) saw a negative performance in the week ended on August 17, amid foreign sales, EGX weekly report revealed Thursday.

The benchmark EGX30 decreased 2.55 percent to close the week at 13,119 points.

The small and mid-cap index EGX70 declined 3.21 percent to end at 697 points. The broader index EGX100 also fell 2.41 percent to stand at 1,573 points.

Turnover went down to LE 3.4 billion ($191 million) this week, compared to LE 3.9 billion ($219 million) last week. Traded volumes reached 1.03 billion shares, down from 1.37 billion shares.

Market capitalization lost 2 percent and reached LE 698 billion in comparison with the previous week.

The financial services excluding banks topped sectors in terms of turnover, registering LE 692.6 million in a week, while real estate sector led in terms of traded volumes with 348.8 million shares.

Local investors acquired 72.13 percent of the market's transactions, while Arab and foreign traders represented 8.83 percent and 19.03 percent, respectively.

Arab traders were net purchasers during the week with LE 140.66 million, while foreign investors were sellers by LE 106.3 million.

Since the beginning of 2017, Arab and foreign investors were net buyers with LE 169.92 million and LE 7.26 billion, respectively.

Institutions acquired 36.75 percent of the market's transactions with total sales valuing LE 7.5 million, while individual traders represented 63.25 percent.
Porto Group was the most active stock in terms of volume traded, exchanging 239.3 million shares, while Citadel Capital led traded values with LE 162.6 million.