EGX ends Wednesday on mixed note, market cap loses LE 1.7B

CAIRO – 28 March 2018: The Egyptian Exchange (EGX) ended the last day of the presidential election in Egypt on a mixed note, amid foreign purchases.

The benchmark EGX30 rose 0.20 percent, or 35.08 points, to end at 17,305.51 points.
The equally weighted index EGX50 increased 0.52 percent, or 15.1 points, to reach 2943.84 points.

While the small and mid-cap index EGX70 slipped 0.72 percent, or 6.29 points, ending at 863.48 points and the broader index EGX100 edged down 0.75 percent, or 16.85 points, to close at 2220.80 points.

Market capitalization lost LE 1.7 billion, recording LE 968.1 billion ($54.78 billion), compared to LE 969.8 billion in Tuesday's session.

The trading volume reached 716.74 million shares traded through 41,259 transactions with a turnover of LE 2.22 billion.

Egyptian and Arab investors were net sellers at LE 137.51 million and LE 4.5 million, respectively, while foreign investors were net buyers at LE 142.04 million.

Egyptian and Arab individuals were net buyers at LE 17.45 million and LE 8.95 million, respectively, while foreign individuals were net sellers at LE 5.7 million.

Egyptian and Arab organizations sold at LE 154.96 million and LE 13.48 million, respectively, while foreign organizations bought in at LE 147.78 million.

Rakta Paper Manufacturing, Orascom Telecom Media and Technology Holding, and
Palm Hills Development Company were top gainers of the session by 9.02 percent, 8.86 percent, and 8.13 percent, respectively.

While National Housing for Professional Syndicates, Edita Food Industries S.A.E, and Ismailia Development and Real Estate Co were top losers of the session by 10.76 percent, 7.89 percent, and 7.71 percent, respectively.

The EGX ended Tuesday on a mixed performance as EGX30 rose 0.97 percent, EGX50 increased 1.68 percent and EGX100 upped 0.42 percent, while EGX70 slipped 0.10 percent.

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.