EGX ends three-session week on mixed note, market cap. loses LE 10.6B

CAIRO – 12 April 2018: The Egyptian Exchange (EGX) ended the three-session week on a mixed note, amid profit picking processes after the benchmark passed 17.900 levels during Wednesday’s session.

The benchmark EGX30 declined 1.83 percent by the end of Thursday’s session, or 328.27 points to end at 17,615.69 points.

The equally weighted index EGX50 slipped 1.53 percent, or 46.69 points to reach 2995.59 points and the broader index EGX100 decreased 0.48 percent, or 10.91 points to close at 2262.76 points.

Unlike the above indices, the small and mid-cap index EGX70 rose 0.34 percent, or 2.96 points, ending at 867.68 points.

Market capitalization lost LE 10.58 billion, recording LE 977.67 billion ($55.24 billion), compared to LE 988.25 billion in Tuesday’s session.

The trading volume reached 339.88 million shares, traded through 33,961 transactions with a turnover of LE 1.6 billion.

Egyptian investors were net buyers at LE 116.69 million while Arab and foreign investors were net sellers at LE 96.86 million and LE 19.83 million, respectively.

Egyptian, Arab and foreign individuals were net buyers at LE 45.52 million, LE 59.98 million and LE 995,799, respectively.

Egyptian organizations bought at LE 71.17 million, while Arab and foreign organizations sold at LE 156.84 million and LE 20.83 million, respectively.

Egyptian International Pharmaceuticals (EIPICO), EDRs Of Al Salam Holding Company, and Nozha International Hospital were top gainers of the session by 8.39 percent, 7.50 percent, and 4.91 percent, respectively.

While Rowad Tourism (Al Rowad), Medinet Nasr Housing, and Emaar Misr for Development were top losers of the session by 8.40 percent, 5.70 percent, and 5.22 percent, respectively.

The Egyptian Exchange (EGX) ended Tuesday’s session on a mixed note as EGX30 jumped 1.39 percent, EGX50 rose 0.61 percent, and EGX100 climbed 0.61 percent, while EGX70 decreased 0.35 percent.

This week included three sessions only as Sunday April 8 and Monday April 9 were official holidays as they coincided with Easter and Sham el Nessim.

Sham el-Nessim is an Egyptian national holiday which marks the beginning of spring and it’s celebrated by all Egyptians.

While Easter is a Christian feast that celebrates the resurrection of Jesus Christ from the dead. Easter concludes a 55-day period of fasting for Copts.