EGX loses LE 4.79B of market cap. in 4 sessions

CAIRO – 25 April 2019: Market Capitalization of the Egyptian Exchange (EGX) gained around LE 4.79 billion over the late week of April.

Only four sessions took place over the last week due to the official holiday on Thursday, April 25, on the occasion of Sinai Liberation Day.

Market Capitalization recorded LE 805.61 billion by the end of Wednesday’s session, April 24, compared to LE 810.41 billion in Thursday’s session, April 18.

During Wednesday, last session of the week, EGX ended trading in a semi-collective rise, as EGX30 rose 0.85 percent, EGX50 increased 0.16 percent, and EGX100 inched up 0.05 percent, while EGX70 declined 0.04 percent. It added LE 3.78 billion to market capitalization.

This week witnessed the referendum on some constitutional amendments which were passed by 88 percent of the 44 percent turnout.

Trading will be resumed on Tuesday, April 30, to be off again on Wednesday, May 1, which marks Labor Day. Labor Day, also called International Workers’ Day, is a celebration of the working classes and occurs every year on May Day, an ancient European spring festival. EGX will be back to trading normally on Thursday, May 2, according to EGX statement.

Meanwhile, EGX announced the trading session dates during the month of Ramadan, clarifying that the trading session of listed securities (Main Market) and Small & Medium Enterprises Stock Exchange (NILEX) will be held from 10 a.m. to 1:30 p.m. and will be preceded by a discovery session that starts at 9:30 a.m.