Egyptian, Arab selling pushes EGX to end in Red

CAIRO – 14 March 2018: Egyptian and Arab selling pushed the Egyptian Exchange’s (EGX) indices to end Wednesday’s session in Red and market capitalization lost LE 4.3 billion.

The benchmark EGX30 slipped 0.63 percent, or 107.34 points, to end at 16,881.72 points.

The equally weighted index EGX50 declined 1.36 percent, or 39.13 points, to reach 2836.25 points.

The small and mid-cap index EGX70 went down 1.20 percent, or 10.91 points, ending at 899.52 points. The broader index EGX100 edged down 1.75 percent, or 13.74 points, to close at 2267.75 points.

Market Capitalization lost LE 4.3 billion, recording LE 972.86 billion ($55.10 billion), compared to LE 977.18 billion in Tuesday’s session.

The trading volume reached 266.63 million shares traded through 35,270 transactions with a turnover of LE 2 billion.

Egyptian and Arab investors were net sellers at LE 48.17 million and LE 40.82 million, respectively, while foreign investors were net buyers at LE 88.99 million.

Egyptian and foreign individuals were net buyers at LE 84.48 million and LE 7.5 million, respectively, while Arab individuals were net sellers at LE 1.11 million.

Egyptian and Arab organizations sold at LE 132.65 million and LE 39.7 million, respectively, while foreign organizations bought at LE 81.48 million.

ELSWEDY ELECTRIC, Alexandria Flour Mills, and General Silos & Storage were top gainers of the session by 9.56 percent, 6.96 percent, and 5.33 percent, respectively.

While Alexandria Spinning & Weaving (SPINALEX), Misr Beni Suef Cement, and National Housing for Professional Syndicates were top losers of the session by 8.96 percent, 8.79 percent, and 8.18 percent, respectively.

EGX ended Tuesday in green as EGX 30 increased 1.47 percent, EGX 50 rose 1.03 percent, EGX 70 went up 0.57 percent and EGX100 edged up 1.75 percent.