EGX ends in green against expectations

CAIRO – 15 March 2018: The Egyptian Exchange (EGX) indices turned back to the green zone before the end of Thursday, nearing 17,000 levels, amid foreign purchases.

EGX went against expectations to continue in red for the last session of the week within profit picking processes.

Mubasher Trade expected that EGX ends Thursday’s session in red at 16,750 – 16,750 points, considering 17,100-17,500 points the resistance points that the index faces.

The benchmark EGX30 rose 0.70 percent, or 117.38 points, to end at 16,999.10 points.

The equally weighted index EGX50 increased 0.14 percent, or 3.97 points, to reach 2840.22 points.

The small and mid-cap index EGX70 went up 0.03 percent, or 0.3 points, ending at 899.82 points. The broader index EGX100 edged up 0.18 percent, or 4.14 points, to close at 2271.89 points.

Market Capitalization lost LE 374.8 million, recording LE 972.49 billion ($55.07 billion), compared to LE 972.86 billion in Wednesday's session.

The trading volume reached 417.79 million shares traded through 37,579 transactions with a turnover of LE 3.46 billion.

Egyptian and Arab investors were net sellers at LE 189.05 million and LE 194.86 million, respectively, while foreign investors were net buyers at LE 383.91 million.

Egyptian and Arab individuals were net sellers at LE 75.75million and LE 32.05 million, respectively, while foreign individuals were net buyers at LE 20.15 million.

Egyptian and Arab organizations sold at LE 113.29 million and LE 162.8 million, respectively, while foreign organizations bought at LE 363.766 million.

Alexandria Flour Mills, Citadel Capital - Common Shares, and El Kahera Housing were top gainers of the session by 8.18 percent, 7.27 percent, and 5.96 percent, respectively.

While Alexandria New Medical Center, Rowad Tourism (Al Rowad), ELSWEDY ELECTRIC were top losers of the session by 5.49 percent, 4.32 percent, and 4.11 percent, respectively.

EGX ended Wednesday in red after a group height for two sessions as EGX 30 declined 0.63 percent, EGX 50 slipped 1.36 percent, EGX 70 went down 1.20 percent and EGX100 edged down 1.75 percent.