EGX continues its downtrend, market cap. loses LE32.33B

CAIRO – 16 March 2020: The Egyptian Exchange (EGX) continued the deep losses for the second session in row, losing around LE 32.33 billion of market capitalization, amid foreign selling.

The benchmark EGX 30 lessened 7.09 percent, or 719.4 points, to close at 9,428.94 points.

The equally weighted index EGX 50 dipped 6.82 percent, or 97.26 points, to end at 1,328.08 points.

The small and mid-cap index EGX 70 decreased 6.58 percent, or 66.81 points, to close at 948.58 points, and the broader index EGX 100 declined 6.05 percent, or 65.97 points to 1,023.72 points.

Market capitalization lost LE 32.33 billion, recording LE 527.83 billion, compared to LE 560.16 billion in Sunday’s session.

The trading volume reached 263.14 million shares, traded through 21,904 transactions, with a turnover of LE 707.39 million.

Foreign investors were net sellers at LE 96.59 million, while Egyptian and Arab investors were net buyers at LE 93.87 million, and LE 2.72 million, respectively.

Arab and foreign individuals were net sellers at LE 13.22 million, and LE 2.47 million, respectively, while Egyptian individuals were net buyers at LE 2.47 million.

Egyptian and Arab organizations bought at LE 85.84 million, and LE 15.94 million, respectively, while foreign organizations sold at LE 94.12 million.

Tenth of Ramadan Pharmaceutical Industries&Diagnostic-Rameda, Raya Holding for Financial Investments, and Naeem Holding were top gainers of the session at 6.28 percent, 5.58 percent and 3.60 percent, respectively.

Meanwhile, United Housing & Development, Citadel Capital - Common Shares, and Egyptian Financial Group-Hermes Holding Company were top losers of the session by 10 percent, 10 percent, and 9.99 percent, respectively.

On Sunday, EGX ended the session in red, as EGX 30 lessened 9.34 percent, EGX 50 dipped 8.26 percent,EGX 70 decreased 7.37 percent, and EGX 100 declined 7.09 percent.