Arab and foreign purchases push EGX into green

CAIRO – 7 February 2018: The Egyptian Exchange (EGX) ended Wednesday in green, recovering some of its loss in Tuesday’s session, amid Arab and foreign purchases.

The benchmark EGX30 rose 2.17 percent, or 319.07 points, to end at 15,037.05 points.

The small- and mid-cap index EGX70 hiked 1.85 percent, or 15.5 points, to end at 854.11 points, and the broader index EGX100 leveled up 1.99 percent, or 28.12 points, to reach 2038.34 points.

The equally weighted index EGX50 increased 55.87 points, or 2.15 percent, closing at 2,653.09 points.

Market capitalization lost LE 12.56 billion ($710.28 million), recording LE 853.76 billion, compared to LE 841.21 billion in Tuesday’s session.

Arab and foreign investors were net buyers at LE 39.39 million and LE 76.97 million, respectively, while Egyptian investors were net sellers at LE 116.37 million.

Egyptian and Arab individuals were net sellers at LE 132.79 million and LE 16.27 million, respectively, while foreign individuals were net buyers at LE 375,640.

Egyptian, Arab and foreign organizations bought by LE 16.42 million, LE 55.67 million and LE 76.59 million, respectively.

National Company for Housing for Professional Syndicates (NHPS), MM Group For Industry And International Trade (MTIE), and El Obour Real Estate Investment (OBRI) were the top gainers of the session, with 9.98 percent, 9.88 percent and 9.20 percent, respectively.

Meanwhile, Alexandria Flour Mills (AFMC), Pyramisa Hotels and Resorts (PHTV), and El Kahera Housing (ELKA) were the top losers of the session, with 9.96 percent, 5.17 percent and 4.32 percent, respectively.

The Egyptian Exchange (EGX) ended Tuesday in red, affected by the decline of global stocks as U.S. stocks fall their worst in more than six years, the benchmark EGX30 decreased 1.63 percent, or 244.16 points, to end at 14,717.98 points.