EGX continues losses during Ramadan 1st session

CAIRO – 6 May 2019: The Egyptian Exchange (EGX) starts Ramadan’s first session in the red zone, marking losses for the second session in row, losing about LE 14.78 billion of market capitalization, amid Arab individuals selling.

The benchmark EGX30 declined 2.12 percent, or 306.95 points, to close at 14,204.59 points.

The equally weighted index EGX50 dipped 2.18 percent, or 49.13 points, to reach 2,204.62 points.

The small and mid-cap index EGX70 lessened 0.61 percent, or 3.96 points, to close at 640.91 points, and the broader index EGX100 decreased 0.91 percent, or 14.89 point, to 1,627.99 points.

Market capitalization lost LE 14.78 billion, recording LE 777.53 billion, compared to LE 792.31 billion in Sunday’s session.

The trading volume reached 63.18 million shares, traded through 11,668 transactions, with a turnover of LE 311.59 million.

Arab investors were net sellers at LE 25.76 million, while Egyptian and foreign investors were net buyers at LE 2.79 million, and LE 22.97 million, respectively.

Egyptian and Arab individuals were net sellers at LE 1.57 million, and LE 26.88 million, respectively, while foreign individuals were net buyers at LE 609,105.

Egyptian, Arab and foreign organizations bought at LE 4.36 million, LE 1.12 million and LE 22.36 million, respectively.

Mohandes Insurance, Housing & Development Bank, and Al Baraka Bank Egypt were top gainers of the session by 3.01 percent, 1.90 percent and 1.22 percent, respectively.

Meanwhile, ELSWEDY ELECTRIC, Rakta Paper Manufacturing, and Development & Engineering Consultants were top losers of the session by 7.54 percent, 7.40 percent, and 7.28 percent, respectively.

On Sunday, EGX ended trading in red zone, as EGX30 dipped 2.48 percent, EGX50 decreased 1.81 percent, EGX70 lessened 0.64 percent, and EGX100 inched down 0.91 percent.