EGX stays in red for 2nd session, market cap. loses LE 13.18B

CAIRO – 31 May 2018: The Egyptian Exchange (EGX) ended Thursday in red for the second consecutive session, and market capitalization lost LE 13.18 billion ($734.24 million) amid Egyptian and Arab selling.

The benchmark EGX30 declined 2.06 percent, or 345.71 points, to close at 16,414.53 points.

The equally weighted index EGX50 slipped 1.61 percent, or 46.21 points, to reach 2,819.74 points.

Meanwhile, the small and mid-cap index EGX70 decreased 0.56 percent, or 4.76 points, closing at 842.66 points, and the broader index EGX100 went down 0.98 percent, or 21.09 points, to close at 2,138.24 points.

Market capitalization lost LE 13.177 billion, recording LE 930.39 billion, compared to LE 943.57 billion in Wednesday’s session.

The trading volume reached 337.97 million shares, traded through 39,080 transactions, with a turnover of LE 3.31 billion.

Foreign investors were net buyers at LE 239.38 million, while Egyptian and Arab investors were net sellers at LE 74.63 million and LE 164.74 million, respectively.

Egyptian, Arab and foreign individuals bought at LE 91.51 million, LE 8.03 million and LE 2.94 million, respectively.

Egyptian and Arab organizations were net sellers at LE 166.14 million and LE 172.77 million, respectively, while foreign organizations were net buyers at LE 236.433 million.

Modern Company for Waterproofing (Bitumode), Egyptian International Pharmaceuticals (EIPICO), and Reacap Financial Investments were top gainers of the session by 8 percent, 4.72 percent and 2.58 percent, respectively.

On the other hand, Misr Hotels, Wadi Kom Ombo Land Reclamation, and General Company for Land Reclamation, Development & Reconstruction were top losers of the session by 9.99 percent, 9.93 percent and 9.80 percent, respectively.

The EGX ended Wednesday’s session in red, as EGX30 declined 1.44 percent, EGX50 slipped 1.62 percent, EGX100 went down 1.12 percent, and EGX70 decreased 0.61 percent.

Trading on the EGX during the holy month of Ramadan is from 10 a.m. to 1:30 p.m. (CLT).