EGX ends Wednesday in red, market cap. loses LE1.56B

CAIRO – 9 December 2020: The Egyptian Exchange (EGX) ended Wednesday session in red, losing LE 1.56 billion of market capitalization, amid foreign selling.

The benchmark EGX30 inched down 0.01 percent, or 0.99 points, to close at 11,018.09 points.

The equally weighted index EGX 50 declined 0.62 percent, or 14.02 points, to end at 2,254.95 points.

The small and mid-cap index EGX 70 dropped 1.27 percent, or 27.31 points, to close at 2,120.47 points, and the broader index EGX 100 lessened 1.05 percent, or 32.83 points to 3,082 points.

Market capitalization lost around LE 1.56 billion, recording LE 653.57 billion, compared to LE 655.13 billion in Tuesday’s session.

The trading volume reached 777.34 million shares, traded through 52,970 transactions, with a turnover of LE 2.41 billion. 

Foreign investors were net sellers at LE 144.75 million, while Egyptian and Arab investors were net buyers at LE 89.81 million, and LE 54.94 million, respectively. 

Arab, and foreign individuals were net buyers at LE 16.08 million, and LE 1.6 million, respectively, while Egyptian individuals were net sellers at LE 38.23 million.

Egyptian, and Arab organizations bought at LE 128.05 million , and LE 38.86 million, respectively, while foreign organizations sold at LE 146.36 million.

Grand Investment Capital, Rakta Paper Manufacturing, and Al Tawfeek Leasing Company-A.T.LEASE were top gainers of the session at 9.75 percent, 8.46 percent and 7.47 percent, respectively. 

Meanwhile, Middle Egypt Flour Mills, Egyptians Housing Development & Reconstruction, and Emerald Real Estate Investment were top losers of the session by 12.06  percent, 8.70 percent, and 6.50 percent, respectively.

On Tuesday, EGX ended trading in green, as EGX30 jumped 0.22 percent, EGX50 hiked 0.95 percent, EGX70 climbed 0.79 percent, and EGX100 rose 0.85 percent.