EGX ends week in semi-collective regression, market cap. loses LE4.35B

CAIRO – 11 June 2020: The Egyptian Exchange (EGX) ended Thursday’s session in a semi-collective regression, losing LE 4.35 billion of market capitalization, amid Arab and foreign selling.

The benchmark EGX30 dipped 0.93 percent, or 101.66 points, to close at 10,831.92 points.

The equally weighted index EGX 50 declined 0.65 percent, or 10.68 points, to end at 1,625.83 points, and the broader index EGX 100 lessened 0.35 percent, or 7.1 points to 2,040.67 points.

On the other hand, the small and mid-cap index EGX 70 inched up 0.03 percent, or 0.33 points, to close at 1,283.44 points.

Market capitalization lost LE 4.35 billion, recording LE 574.44 billion, compared to LE 578.78 billion in Wednesday’s session.

The trading volume reached 306.82 million shares, traded through 33,249 transactions, with a turnover of LE 804.46 million.

Egyptians investors were net buyers at LE 59.78 million, while Arab and foreign investors were net sellers at LE 16.25 million, and LE 43.53 million, respectively.

Egyptian and Arab individuals were net sellers at LE 7.89 million, and LE 10.4 million, respectively, while foreign individuals were net buyers at LE 5.18 million.

Egyptian organizations bought at LE 67.68 million, while Arab and foreign organizations sold at LE 5.85 million, and LE 48.71 million, respectively.

Sharm Dreams Co. for Tourism Investment, Arab Valves Company, and Engineering Industries (ICON) were top gainers of the session at 9.95 percent, 9.94 percent and 8.84 percent, respectively.

Meanwhile, Alexandria Flour Mills, Mohandes Insurance, and Torah Cement were top losers of the session by 7.86 percent, 5.68 percent, and 5.59 percent, respectively.

EGX ended Wednesday on mixed note, as: EGX30 dipped 1.17 percent, EGX 50 declined 0.36 percent, while EGX 70 increased 0.45 percent, and EGX 100 climbed 0.15 percent.