EGX ends Wednesday in green, passes 16,300 levels

CAIRO – 7 March 2018: The Egyptian Exchange (EGX) indices recorded an increase for the fourth consecutive session by the end of Wednesday trading, amid foreign purchases.

The benchmark EGX30 rose 2.26 percent, or 361.81 points, to end at 16,384.07 points.

The equally weighted index EGX50 increased 0.75 percent, or 20.65 points, to reach 2775.22 points.

Mubasher Trade expected in its daily report that the benchmark targets 16,500 levels, adding that 15,700 points is the support level. The report clarified that the upward trend of the index is supported by shares of Commercial international Bank, Eastern Company and Talaat Mustafa group.

The small and mid-cap index EGX70 went up 0.29 percent, or 2.58 points, up to 884.02 points, and the broader index EGX100 edged up 2.18 percent, or 47.27 points, ending at 2211 points.

Market Capitalization gained LE 12.47 billion, recording LE 952.85 billion ($53.97billion), compared to LE 940.37 billion in Tuesday’s session.

The trading volume reached 328 million shares traded through 36,188 transactions with a turnover of LE 1.93 billion.

Egyptian and Arab investors were net sellers at LE 242.75 million and LE 15.73 million, respectively, while foreign investors were net buyers at LE 258.47 million.

Egyptian, Arab and foreign individuals were net sellers at LE 115.17 million, LE 3.55 million and LE 2.13 million, respectively.

Arab and foreign organizations bought at LE 14.82 million and LE 260.6 million, respectively, while Egyptian organizations sold at LE 127.58 million.

National Housing for Professional Syndicates, National Company for Maize Products and Misr National Steel – Ataqa were top gainers of the session by 9.99 percent, 9.99 percent, and 9.98 percent, respectively.

While Reacap Financial Investments, Egypt for Poultry and International Agricultural Products were top losers of the session by 7.37 percent, 5.54 percent, and 5.19 percent, respectively.

EGX ended Tuesday in green as EGX 30 upped 1.99 percent, EGX 70 increased 0.70 percent, EGX 100 rose 1.50 percent and EGX50 went up 1.33 percent.