Egyptian selling pushes EGX towards red zone in January's final trading session

CAIRO – 31 January 2021: The Egyptian Exchange (EGX) ended January’s final trading session in red, despite adding LE 1.3 billion to market capitalization, amid Arab and foreign purchases.

The benchmark EGX30 dipped 0.28 percent, or 32.69 points, to end at 11,546.15 points.

The equally weighted index EGX 50 decreased 0.49 percent, or 11.62 points, to end at 2,366.16 points.

The small and mid-cap index EGX 70 lessened 0.37 percent, or 8.71 points, to close at 2,355.74 points, and the broader index EGX 100 rose 0.52 percent, or 17.75 points, to close at 3,373.09 points.

Market capitalization gained around LE 1.3 billion, recording LE 696.75 billion, compared to LE 695.44 billion during last trading session of last week on Wednesday.

The trading volume reached 577.93 million shares, traded through 50,494 transactions, with a turnover of LE 1.49 billion. 

Egyptian investors were net sellers at LE 94.93 million, while Arab and foreign investors were net buyers at LE 29.93 million, and LE 65 million, respectively.

Egyptian and foreign individuals were net sellers at LE 63.24 million, and LE 1.1 million, respectively, while Arab individuals were net buyers at LE 6.76 million.

Arab and foreign  organizations bought at LE 23.16 million, and LE 66.1 million, respectively, while Egyptian organizations sold at LE 31.69 million.

Alexandria Spinning & Weaving (SPINALEX), Wadi Kom Ombo Land Reclamation, and Glaxo Smith Kline were top gainers of the session at 17.53 percent, 10 percent and 9.96 percent, respectively. 

Meanwhile, Ismailia Development and Real Estate Co, Acrow Misr, and Electro Cable Egypt     were top losers of the session by 7.07 percent, 6.63 percent, and 6.23 percent, respectively.

EGX was off on Thursday, Jan. 28,  as a replacement for the 25th of January Revolution - Police Day holiday.