EGX ends Monday on mixed note

CAIRO – 26 March 2018: The Egyptian Exchange (EGX) ended Monday on a mixed note, leaving behind its collective height, amid Egyptian and Arab selling.

EGX indices recorded a height at the beginning and in the middle of the session, affected by the start of the presidential election in Egypt, until the decline of EGX70 and EGX100 before closure.

The benchmark EGX30 rose 0.70 percent, or 119.65 points, to end at 17,104.34 points.

The equally weighted index EGX50 increased 0.48 percent, or 13.8 points, to reach 2880.22 points.

While the small and mid-cap index EGX70 slipped 0.36 percent, or 3.14 points, ending at 870.63 points and the broader index EGX100 edged down 0.04 percent, or 0.93 points, to close at 2228.23 points.

The presidential election kicked off on Monday and will continue until March 28, in a race pitting incumbent President Abdel Fatah al-Sisi against Al-Ghad party chairperson, Moussa Moustafa Moussa.

The 2018 presidential election is the third poll to take place in Egypt since the January 2011 revolution. Egyptian expatriates have already voted in mid-March across 124 countries.

Market capitalization gained LE 1.3 billion, recording LE 963.8 billion ($54.59 billion), compared to LE 962.5 billion in Sunday’s session.

The trading volume reached 433.72 million shares traded through 30,499 transactions with a turnover of LE 1.69 billion.

Egyptian and Arab investors were net sellers at LE 102 million and LE 49.29 million, respectively, while foreign investors were net buyers at LE 151.29 million.

Egyptian and foreign individuals were net buyers at LE 28.56 million and LE 9.72 million, respectively, while Arab individuals were net sellers at LE 9.74 million.

Egyptian and Arab organizations sold at LE 130.57 million and LE 39.54 million, respectively, while foreign organizations bought in at LE 141.57 million.

Misr National Steel (Ataqa), Delta Construction & Rebuilding and Northern Upper Egypt Development & Agricultural Production were top gainers of the session by 9.06 percent, 8.46 percent, and 7.97 percent.

While Delta for Printing & Packaging, El Nasr For Manufacturing Agricultural Crops, and El Ezz Dekhela Steel were top losers of the session by 9.08 percent, 7.25 percent, and 6.85 percent, respectively.

EGX has decreased for the last two consecutive sessions; the indices ended Sunday in red as EGX30 declined 0.47 percent, EGX50 decreased 0.39 percent, EGX70 slipped 0.51 percent and EGX100 edged down 1 percent.