EGX ends Tuesday on mixed note amid profit picking process

CAIRO – 3 April 2018: The Egyptian Exchange (EGX) ended Tuesday session with a semi-collective regression pushed by profit picking processes, amid Egyptian and Arab selling.

The benchmark EGX30 slipped 1.90 percent, or 191.95 points, to end at 17,492.71 points.

Mubasher Trade raised the price target for the benchmark of the Egyptian Exchange EGX30 to 17,700 with an increase of 6.6 percent, a recent report remarked.

The equally weighted index EGX50 dropped 0.61 percent, or 32.95 points, to reach 3014.11 points.

The small and mid-cap index EGX70 decreased 0.29 percent, or 2.54 points, ending at 874.80 points, while the broader index EGX100 rose 0.23 percent, or 5.29 points, to close at 2257.79 points.

Market capitalization lost LE 6.6 billion, recording LE 978.29 billion ($55.33 billion), compared to LE 984.92 billion in Monday’s session.

The trading volume reached 687.03 million shares, traded through 45,901 transactions with a turnover of LE 2.34 billion.

Egyptian and Arab investors were net sellers at LE 25.27 million and LE 60.49 million, respectively, while foreign investors were net buyers at LE 85.76 million.

Egyptian and foreign individuals were net buyers at LE 237.37 million and LE 13 million, respectively, while Arab individuals were net sellers at LE 46.54 million.

Egyptian and Arab organizations sold at LE 262.64 million and LE 13.95 million, respectively, while foreign organizations bought at LE 72.76 million.

Development & Engineering Consultants, Modern Company for water proofing (Bitumode), and Misr National Steel - Ataqa were top gainers of the session by 11.20 percent, 8.64 percent, and 7.18 percent, respectively.

While Global Telecom Holding, Wadi Kom Ombo Land Reclamation, and BPE Holding for Financial Investments were top losers of the session by 14.69 percent, 9.49 percent, and 7.81 percent, respectively.

The Egyptian Exchange (EGX) ended Monday's session on a mixed note as EGX30 rose 0.50 percent, EGX50 increased 0.61 percent, and EGX70 jumped 0.10 percent, while EGX100 declined 0.23 percent.