EGX enters red zone Wednesday, market cap. loses LE 3.96B

CAIRO - 27 February 2019: The Egyptian Exchange (EGX) ended Wednesday’s session in red, and market capitalization lost around LE 3.96 billion, amid Arab selling.

The benchmark EGX30 dropped 0.77 percent, or 114.51 points, to close at 14,772.34 points.

Meanwhile, the equally weighted index EGX50 dipped 0.49 percent, or 12.03 points, to reach 2,457.15 points.

The small and mid-cap index EGX70 inched down 0.18 percent, or 1.29 point, to 714.96 points, and the broader index EGX100 lessened 0.27 percent, or 4.95 points, to close at 1,801.53 points.

Market capitalization lost LE 3.96 billion, recording LE 823.96 billion, compared to LE 827.93 billion in Tuesday’s session.

The trading volume reached 234.01 million shares, traded through 22,368 transactions, with a turnover of LE 661.39 million.

Arab investors were net sellers at LE 11.06 million, while Egyptian and foreign investors were net buyers at LE 5.77 million and LE 5.28 million, respectively.

Egyptian and Arab individuals were net sellers atLE 13.24 million, and LE 4 million, respectively, while Foreign individuals were net buyers at LE 538,105.

Arab organizations sold at LE 7.06 million, while Egyptian and foreign organizations bought at LE 19 million and LE 7.06 million, respectively.

General Company For Land Reclamation,Development & Reconstruction, Modern Company for water proofing (Bitumode), and Misr Cement (Qena) were top gainers of the session by 9.96 percent, 7.22 percent and 6.37 percent, respectively.

Meanwhile, Arab Aluminum, El-Nile Co. for Pharmaceuticals and Chemical Industries, and El Arabia for Land Reclamation were top losers of the session by 4.63 percent, 4.60 percent, and 4.01 percent, respectively.

EGX ended Tuesday’s session on mixed note, as EGX30 declined 0.40 percent, while EGX50 rose 0.49 percent, EGX70 hiked 0.44 percent and EGX100 increased 0.03 percent.