Egyptian selling pushes EGX into red for 2nd session

CAIRO – 20 March 2018: Profit picking processes continued for the second session at the Egyptian Exchange (EGX), pushing indices to end Tuesday in a semi-collective regression, amid Egyptian selling.

The benchmark EGX30 slipped 0.34 percent, or 58.23 points, to end at 17,113.90 points.

The small and mid-cap index EGX70 went down 0.22 percent, or 1.99 points, ending at 886.62 points. The broader index EGX100 edged down 0.07 percent, or 1.69 points, to close at 2264.88 points.

The equally weighted index EGX50 increased 0.12 percent, or 3.53 points, to reach 2866.59 points.

Market Capitalization lost LE 4.07 billion, recording LE 970.58 billion ($54.98 billion), compared to LE 974.65 billion in Monday’s session.

The trading volume reached 355.29 million shares traded through 36,347 transactions with a turnover of LE 1.56 billion.

Arab and foreign investors were net buyers at LE 56.05 million and LE 42.28 million, respectively, while Egyptian investors were net sellers at LE 98.33 million.

Arab and foreign individuals were net buyers at LE 12.7 million and LE 3.06 million, respectively, while Egyptian individuals were net sellers at LE 3.05 million.

Arab and foreign organizations bought at LE 43.34 million and LE 39.22 million, respectively, while Egyptian organizations sold at LE 95.28 million.

Rowad Tourism (Al Rowad), Citadel Capital - Common Shares, and Ibnsina Pharma were top gainers of the session by 7.83 percent, 7.22 percent, and 6.25 percent, respectively.

While Universal For Paper and Packaging Materials (Unipack), Gharbia Islamic Housing Development, and Alexandria Pharmaceuticals were top losers of the session by 4.61 percent, 4.28 percent, and 4.11 percent, respectively.

EGX ended Monday in red as EGX30 declined 0.57 percent, EGX50 slipped 0.36 percent, EGX70 went down 0.67 percent, and EGX100 decreased 0.29 percent.