EGX stays in red zone for 3rd session in row

CAIRO – 17 April 2019: The Egyptian Exchange (EGX) ended Wednesday’s trading in red for the third consecutive session, losing LE 4.09 billion of the market capitalization, amid Egyptians selling.

The benchmark EGX30 dropped 0.73 percent, or 109 points, to close at 14,864.01 points.

The equally weighted index EGX50 decreased 0.73 percent, or 17.15 points, to reach 2,316.98 points.

The small and mid-cap index EGX70 dipped 0.25 percent, or 1.66 points, to close at 663.22 points, and the broader index EGX100 lessened 0.32 percent, or 5.37 point, to 1,691.6 points.

Market capitalization lost LE 4.09 billion, recording LE 809.4 billion, compared to LE 813.49 billion in Tuesday’s session.

The trading volume reached 93.4 million shares, traded through 15,579 transactions, with a turnover of LE 437.39 million.

Egyptian investors were net sellers at LE 11.69 million, while Arab and foreign investors were net buyers at LE 9.67 million, and LE 2.02 million, respectively.

Egyptian, and foreign individuals were net sellers at LE 54.61 million, and LE 2.19 million, respectively, while Arab individuals were net buyers at LE 5.29 million.

Egyptian, Arab and foreign organizations bought at LE 42.9 million, LE 4.37 million and LE 22.63 million, respectively.

El-Nile Co. for Pharmaceuticals and Chemical Industries, Arab Pharmaceuticals, and Memphis Pharmaceuticals, were top gainers of the session by 9.37 percent, 4.38 percent and 4.23 percent, respectively.

Meanwhile, National Bank of Kuwait- Egypt- NBK, Sharkia National Food, and Egyptian Gulf Bank were top losers of the session by 9.23 percent, 8.05 percent, and 6.80 percent, respectively.

EGX ended Tuesday in red for the second session in a row, as EGX30 decreased 0.55 percent, EGX50 lessened 1.08 percent, EGX70 declined 0.71 percent, and EGX100 dropped 0.70 percent.