EGX bounces to Green Zone in Wednesday

CAIRO – 22 January 2020: The Egyptian Exchange (EGX) ended Wednesday’s session in green after being in the red zone for two consecutive sessions, adding LE 3.79 billion of market capitalization, amid foreign purchases.

The benchmark EGX 30 rose 0.82 percent, or 112.39 points, to close at 13,752.11 points.

The equally weighted index EGX 50 hiked 0.83 percent, or 15.44 points, to end at 1,884.8 points.

The small and mid-cap index EGX 70 climbed 0.78 percent, or 4.11 points, to close at 531.81 points, and the broader index EGX 100 increased 0.82 percent, or 11.16 points to 1,379.71 points.

Market capitalization gained LE 3.79 billion, recording LE 695.57 billion, compared to LE 691.97 billion in Tuesday’s session.

The trading volume reached 92.75 million shares, traded through 14,697 transactions, with a turnover of LE 444.75 million.

Foreign investors were net buyers at LE 78.72 million, while Egyptian and Arab investors were net sellers at LE 20.68 million, and LE 58.72 million, respectively.

Egyptian, Arab and foreign individuals were net sellers at LE 26.24 million, LE 22.56 million and LE 278,925, respectively.

Egyptian and foreign organizations bought at LE 5.56 million, and LE 79 million, respectively, while Arab organizations sold at LE 35.48 million.

El-Nile Co. for Pharmaceuticals and Chemical Industries, Modern Company for waterproofing (Bitumode), and Misr Beni Suef Cement were top gainers of the session 8.79 percent, 7.42 percent and 6.08 percent, respectively.

Meanwhile, Glaxo Smith Kline, National Bank of Kuwait- Egypt- NBK, and Misr Hotels were top losers of the session by 9.99 percent, 3.46 percent, and 2.97 percent, respectively.

On Tuesday, EGX ended the session in red, as EGX 30 dropped 1.17 percent, EGX 50 dipped 1.17 percent EGX70 dropped 0.41 percent, and EGX 100 inched down 0.64 percent.