Arab selling pushes EGX to start week in red zone with LE77.32B loss in market cap.

CAIRO - 28 April 2024: The Egyptian Exchange (EGX) ended Sunday in the red zone, losing around LE 77.32 billion of the market capitalization amid Arab selling.

 

The benchmark EGX30 declined 4.93 percent, or 1,277.96 points, to end at 24,639.63 points.

 

The small and mid-cap index EGX 70 decreased 4.72 percent, or 282.98 points, to close at 5,714.19 points.

 

Moreover, the broader index EGX 100 dropped 4.84 percent, or 412.27 points, to 8,097.97 points.

  

Market capitalization lost around LE 77.32 billion, recording LE 1.691 trillion, compared to LE 1.768 trillion in Wednesday’s session, as Thursday, April 25, was an official holiday on the occasion of the anniversary of Sinai Liberation Day.

 

The trading volume reached 697.266 million shares, traded through 90,103 transactions, with a turnover of LE 2.29 billion.

 

Arab investors were net sellers at LE 32.73 million, while Egyptian and foreign investors were net buyers at LE 21.04 million, and LE 11.68 million, respectively.

 

Taaleem Management Services, Wadi Kom Ombo Land Reclamation, and CI Capital Holding for Financial Investments were top gainers of the session at 7.94 percent, 6.08 percent, and 4.52 percent, respectively.

 

Meanwhile, Egyptian Financial & Industrial, Egyptian Kuwaiti Holding-EGP, and Development & Engineering Consultants were top losers of the session by 15.51 percent, 13.76 percent, and 12.98 percent, respectively.