EGX 30 leaves 14K levels, market cap. loses LE10.7B Wednesday

CAIRO – 15 May 2019: The Egyptian Exchange (EGX) continues its downtrend for the third session in row during Wednesday, losing about LE 10.7 billion of market capitalization, amid Arab selling.

The benchmark EGX30 dropped 1.35 percent, or 214.69 points, to close at 13,809.46 points.

The equally weighted index EGX50 declined2.33 percent, or 49.62 points, to reach 2,076.5 points.

The small and mid-cap index EGX70 lessened 0.89 percent, or 5.53 points, to close at 615.5 points, and the broader index EGX100 decreased 0.99 percent, or 15.62 point, to 1,563.83 points.

Market capitalization lost LE 10.7 billion, recording LE 755.73 billion, compared to LE 766.47 billion in Tuesday’s session.

The trading volume reached 68.46 million shares, traded through 13,218 transactions, with a turnover of LE 379.97 million.

Arab investors were net sellers at LE 10.61 million, while Egyptian and foreign investors were net buyers at LE 5.27 million, and LE 5.34 million, respectively.

Egyptian and foreign individuals were net buyers at LE 6.31 million, and LE 2.24 million, respectively, while Arab individuals were net sellers at LE 2.67 million.

Egyptian and Arab organizations sold at LE 1.03 million, and LE 7.94 million, respectively, while foreign organizations bought at LE 3.09 million.

Al Baraka Bank Egypt, Export Development Bank of Egypt (EDBE), and Suez Canal Bank were top gainers of the session by 7.28 percent, 4.76 percent and 2.39 percent, respectively.

Meanwhile, Modern Shorouk Printing & Packaging, Al Tawfeek Leasing Company-A.T.LEASE, and SamadMisr –EGYFERT were top losers of the session by 9.97 percent, 9.16 percent, and 8.46 percent, respectively.

On Tuesday, EGX ended trading in red, as EGX30 dropped 0.85 percent, EGX50 dipped 0.65 percent, EGX70 declined 0.06 percent, and EGX100 decreased 0.17 percent.