EGX30 exceeds 17,900 levels, market capitalization gains LE 3.7B

CAIRO – 11 April 2018: The Egyptian Exchange’s (EGX) benchmark exceeded 17,900 levels by the end of Wednesday’s session, amid organizations’ purchases.

The benchmark EGX30 rose 1.39 percent by the end of the second session of the week, or 246.64 points to end at 17,943.96 points.

The equally weighted index EGX50 jumped 0.61 percent, or 18.43 points to reach 3042.28 points and the broader index EGX100 increased 0.61 percent, or 13.81 points to close at 2273.67 points.

On the other hand, the small and mid-cap index EGX70 decreased 0.35 percent, or 3.01 points, ending at 864.72 points.

Market capitalization gained LE 3.7 billion, recording LE 988.25 billion ($55.80 billion), compared to LE 984.54 billion in Tuesday’s session.

The trading volume reached 543.07 million shares, traded through 45,836 transactions with a turnover of LE 3.6 billion.

Egyptian investors were net sellers at LE 161.53 million while Arab and foreign investors were net buyers at LE 90.92 million and LE 70.61 million, respectively.

Egyptian and foreign individuals were net sellers at LE 178.4 million, LE 5.23 million, respectively, while Arab individuals were net buyers at LE 86.05 million.

Egyptian, Arab and foreign organizations bought at LE 16.88 million,, LE 4.87 million and LE 75.84 million, respectively.

Medinet Nasr Housing, Universal for Paper and Packaging Materials (Unipack), and Six of October Development & Investment (SODIC) were top gainers of the session by 12.6 percent, 8.95 percent, and 8.89 percent, respectively.

While Egyptians Real Estate Fund Certificates, El Obour Real Estate Investment, and El Kahera Housing were top losers of the session by 11.76 percent, 10 percent, and 8.7 percent, respectively.

The Egyptian Exchange (EGX) ended Tuesday’s session in green as EGX30 jumped 1.65 percent, EGX50 rose 1.55 percent, EGX70 climbed 0.25 percent and EGX100 increased 0.95 percent.

Sunday April 8 and Monday April 9 were official holidays as they coincided with Easter and Sham el Nessim.

Sham el-Nessim is an Egyptian national holiday which marks the beginning of spring and it’s celebrated by all Egyptians.

While Easter is a Christian feast that celebrates the resurrection of Jesus Christ from the dead. Easter concludes a 55-day period of fasting for Copts.