EGX loses LE 13.48 of market cap. amid Egyptian, Arab selling

CAIRO – 4 December 2018: The Egyptian Exchange (EGX) continued its downtrend for the third session in row amid Egyptian and Arab selling, and market capitalization lost LE 13.48 billion.

The benchmark EGX30 declined 2.39 percent, or 309.7 points, to close at 12,624.74 points.

The equally weighted index EGX50 decreased 2.35 percent, or 50.14 points, to reach 2,083.07 points.

The small and mid-cap index EGX70 inched down 1.04 percent, or 6.96 points, reaching 665.39 points, and the broader index EGX100 went down 1.28 percent, or 21.54 points, to close at 1,660.12 points.

Market capitalization lost LE 13.48 billion, recording LE 721.9 billion, compared to LE 735.38 billion in Monday’s session.

The trading volume reached 151.58 million shares, traded through 23,319 transactions, with a turnover of LE 628.2 million.

Foreign investors were net buyers at LE 49.41 million, while Egyptian and Arab investors were net sellers at LE 28.75 and LE 20.66 million, respectively.

Egyptian, Arab and foreign individuals were net buyers at LE 12.93 million, LE 3.28 million and LE 52,868, respectively.

Foreign organizations bought at LE 49.36 million, while Egyptian and Arab organizations sold at LE 41.68 million, and LE 49.36 million, respectively.

Wadi Kom Ombo Land Reclamation, Egyptian Starch & Glucose, and Alexandria National Company for Financial Investment were top gainers of the session by 9.89 percent, 8.56 percent and 7.29 percent, respectively.

Meanwhile, Saudi Egyptian Investment & Finance, Al Ahram Co. for Printing and Packing, and Memphis Pharmaceuticals were top losers of the session by 9.57 percent, 9.27 percent, and 8.82 percent, respectively.

EGX ended Monday’s in red, as EGX 30 declined 1.64 percent, EGX50 decreased 1.61 percent, EGX70 inched down 0.43 percent, and EGX100 went down 0.59 percent.