EGX flattens out during Fawry's 1st trading session

CAIRO – 8 August 2019: The Egyptian Exchange (EGX) recorded a collective rise for second session in row, reacting positively towards first tarding session on fawry on bourse. the bourse added LE 13.46 billion to market capitalization, amid foreifn purchases.

Trading on listed shares of Fawry on EGX started Thursday, August 8, after the company received the approval of the stock exchange. Fawry offered 36 percent of its shares on EGX to collect LE 1.6 billion; of which about 21 percent will be offered to Actis, Banque Misr and National Bank of Egypt at 7 percent each.

"Egyptians represented 80.3 percent of Fawry's initial public offering (IPO) and 50 percent of the private placement. Arabs and foreigners represented 19.7 percent of the IPO and 49.3 percent of the private, " EGX stated Thursday.

The benchmark EGX 30 jumped 2.16 percent, or 299.87 point, to close at 14,180.44 points.

The equally weighted index EGX 50 hiked 2.79 percent, or 56.39 points, to close at 2,081.48 points.

The small and mid-cap index EGX 70 climbed 1.63 percent, or 8.5 points, to close at 530.85 points, and the broader index EGX 100 rose 1.97 percent, or 27.07 point, to 1,404.23 points.

Market capitalization gained LE 13.46 billion, recording LE 746.16 billion, compared to LE 732.69 billion in Wednesday's session.

The trading volume reached 2.28 billion shares, traded through 37,474 transactions, with a turnover of LE 12.83 billion.

Fawry For Banking Technology And Electronic Payment, Ceramic & Porcelain, and Al Tawfeek Leasing Company-A.T.LEASE were top gainers of the session by 31.27 percent, 8.95 percent and 8.79 percent, respectively.

Meanwhile, Delta For Printing & Packaging, The Egyptian Company for Construction Development-Lift Slab, and Mohandes Insurance were top losers of the session by 14.78 percent, 7.35 percent, and 5.45 percent, respectively.


Foreign investors were net buyers at LE 4.82 million, while Egyptian and Arab investors were net sellers at LE 3.57 billion, and LE 1.25 billion, respectively.

Egyptian, Arab and foreign individuals were net sellers at LE 1.88 billion, LE 349.69 million, and LE 50.58 million, respectively.

Egyptian and Arab organizations sold at LE 1.68 billion, and LE 855.09 million, respectively, while foreign organizations bought at LE 4.87 billion.

EGX ended Wednesday's session in green, as EGX30 rose 1.65 percent, EGX50 hiked 1.96 percent, while EGX 70 increased 0.71 percent, and EGX 100 jumped 1.22 percent.

EGX announced, Wednesday, Eid El-Adha holiday to be three days, starting from Sunday, August 11, to Tuesday, August 13.