EGX ends 4-session week in semi-collective rise

CAIRO - 24 April 2019: The Egyptian Exchange (EGX) ended four-session week in a semi-collective rise, adding LE 3.78 billion to market capitalization, amid foreign purchases.

This week witnessed the referendum on some constitutional amendments, and passed by passed by 88 percent with 44 percent turnout. Also, EGX will start official holidays’ session tomorrow starting by Thursday, April 25, in celebration of the liberation of Sinai from the Israeli occupation.

Trading will be resumed on Tuesday, April 30, to be off again on Wednesday, May 1, which marks Labor Day. Labor Day, also called International Workers’ Day, is a celebration of the working classes and occurs every year on May Day, an ancient European spring festival. EGX will back to trading normally on Thursday, May 2, according to EGX statement.

The benchmark EGX30 rose 0.85 percent, or 124.49 points, to close at 14,770.27 points.

The equally weighted index EGX50 increased 0.16 percent, or 3.55 points, to reach 2,286.37 points, and the broader index EGX100 inched up 0.05 percent, or 0.75 point, to 1,657.54 points.

On the other hand, the small and mid-cap index EGX70 dipped 0.04 percent, or 0.25 points, to close at 649.27 points.

Market capitalization gained LE 3.78 billion, recording LE 805.61 billion, compared to LE 801.83 billion in Tuesday’s session.

The trading volume reached 70.76 million shares, traded through 12,160 transactions, with a turnover of LE 391.83 million.

Foreign investors were net buyers at LE 41.71 million, while Egyptian and Arab investors were net sellers at LE 41.12 million, and LE 597,769, respectively.

Egyptian and foreign individuals were net sellers at LE 32.83 million, and LE 3.28 million, respectively, while Arab individuals were net buyers at LE 5.3 million.

Egyptian and Arab organizations sold at LE 8.28 million, and LE 44.99 million, respectively, while foreign organizations bought at LE 44.99 million.

Lecico Egypt, Mansourah Poultry, and Memphis Pharmaceuticals, were top gainers of the session by 6.91 percent, 6.08 percent and 5.07 percent, respectively.

Meanwhile, National Housing for Professional Syndicates, Assiut Islamic Trading, and Alexandria Pharmaceuticals were top losers of the session by 9.04 percent, 8.17 percent, and 5.19 percent, respectively.

EGX ended Tuesday’s session in red, as EGX30 dipped 1.05 percent, EGX50 lessened 1.03 percent and EGX70 declined 0.08 percent, EGX100 decreased 0.28 percent.