EGX 30 Ends Week Below 5900 Pts On Foreign Profit-Taking

During Thursday closing session, the Egyptian Exchange (EGX) has tripled its early losses to eventually reach EGP 3.45 billion as the capital market has amounted to EGP 408.759 billion.

EGX indices closed in red.

The main index, EGX30 dived by 1.38% to close at 5887.04 p.  EGX20 sank by 1.13% to end at 6945.73 p.

Meanwhile, the mid- and small-cap index, the EGX70 fell by 0.88% to conclude at  568.99 pts.  Price index EGX100 inched lower by 0.92% to finish at 932.45 p.

Traded volume reached 220.284 million securities worth EGP 762.905 million, exchanged through 43.568 thousand transactions.

This was after trading in 187 listed securities; 107 declined 69 advanced while 11 keeping their previous levels.

The EGX’s losses were backed by the non-Arab Foreigners ‘ profit-taking process.

Egyptians and Arabs were net buyers seizing 86.21% and 6.54% respectively, of the total markets, with a net equity of EGP 18.569 million and EGP 10.213 million excluding the deals.

On the other hand,  non-Arab Foreigners  were net sellers seizing 7.25% of the total markets, with a net equity of EGP 28.782 million excluding the deals.

Leading Shares:

EGX’s leading shares witnessed downwards.

Citadel Capital:

Citadel Capital (CCAP.CA) dived by 2.97% to end at EGP 4.58.

Talaat Moustafa Group:

Talaat Moustafa Group (TMGH.CA) surged by 0.35% to close at EGP 5.70.

Responding to the EGX’s inquiries, TMG asserted Thursday that it is studying a number of offers from banks so as to receive a long-term loan to finance the establishment of a mall in Madinaty City, New Cairo.

The banks’ offers are still under study and the Group had not resolved to accept one of those offers yet, TMG affirmed.

This was after Amwal Al Ghad had published Wednesday saying that TMG is conducting negotiations with a number of banks to receive a long-term loan worth EGP 1.2 billion to finance the establishment of a mall in Madinaty City, New Cairo.

Sources told Amwal Al Ghad that TMG submitted a request to the Arab African International Bank (AAIB) asking for the finance and the bank plans to ask other banks particularly Banque Misr which prepares a feasible study on the project to contribute to arranging and managing the loan.

Orascom Telecom Holding:

Orascom Telecom Holding (OTH) (ORTE.CA) dropped by 1.81% to close at EGP 3.79.

Orascom Telecom Media & Technology Holding:

Orascom Telecom Media & Technology Holding (OTMT.CA) dipped by 1.79% to end at EGP 0.55.

Orascom Construction Industries:

Orascom Construction Industries (OCIC.CA) went down by 1.53% to finish at EGP 287.88.

EFG-Hermes:

EFG-Hermes Holding (HRHO.CA) declined by 0.41% to end at EGP 12.01.