EGX ends Wednesday in red, market cap. loses LE 18.13B

CAIRO – 8 May 2019: The Egyptian Exchange (EGX) ends Wednesday’s session in red, and market capitalization lost around LE 18.13 billion, amid Egyptian and Arab selling.

The benchmark EGX30 declined 2.52 percent, or 363.1 points, to close at 14,026.81 points.

The equally weighted index EGX50 dropped 4.01 percent, or 88.23 points, to reach 2,114.52 points.

The small and mid-cap index EGX70 lessened 2.22 percent, or 14.03 points, to close at 619.2 points, and the broader index EGX100 decreased 2.35 percent, or 37.89 point, to 1,575.36 points.

Market capitalization gained LE 18.13 billion, recording LE 763.06 billion, compared to LE 781.19 billion in Tuesday’s session.

The trading volume reached 125.23 million shares, traded through 16,815 transactions, with a turnover of LE 584.67 million.

Foreign investors were net buyers at LE 111.61 million, while Egyptian and Arab investors were net sellers at LE 83.42 million, and LE 28.18 million, respectively.

Egyptian and Arab individuals were net sellers at LE 110.03 million, and LE 21.13 million, respectively, while foreign individuals were net buyers at LE 516,423.

Egyptian and foreign organizations bought at LE 26.61 million, and LE 111.09 million, respectively, while Arab organizations sold at LE 7.05 million.

Middle Egypt Flour Mills, Housing & Development Bank, and Rowad Tourism (Al Rowad) were top gainers of the session by 4.32 percent, 1.67 percent and 1.12 percent, respectively.

Meanwhile, Memphis Pharmaceuticals, MM Group for Industry and International Trade, and Al Tawfeek Leasing Company-A.T.LEASE were top losers of the session by 9.95 percent, 9.94 percent, and 9.78 percent, respectively.

On Tuesday, EGX ended trading in semi-collective regression, as EGX30 rose 1.30 percent, while EGX50 inched down 0.08 percent, EGX70 lessened 1.20 percent, and EGX100 decreased 0.91 percent.