Local, Arab Profit-takers Drag Egypt’s EGX30 below 8030
As the Egyptian resigned cabinet is tasked with running the government’s affairs until selecting a new prime minister, the country’s stocks ended lower on Tuesday, with losses of 1.25 billion pounds. In return, the Egyptian main stock index – EGX30 closed lower as well below 8030 points on local and Arab profit-takers.
Additionally, the Egyptian Exchange (EGX) indices were wavering in red notes on Tuesday afternoon, except for the EGX20 which solely rose.
Indices
Egypt’s benchmark index EGX30 ended 0.21 per cent lower to 8029.22 pts; while EGX20 finished 0.27 per cent up to 9606.37 pts.
Meanwhile, the mid- and small-cap index, the EGX70 tumbled by 0.76% to close at 655.02 pts. The price index EGX100 inched down by 0.82 per cent to conclude at 1120.8 pts.
Furthermore, the market capitalization recorded EGP 490.624 billion on Tuesday.
Turnovers Crossing One Billion Pounds
Through the closing session of Tuesday, the trading volume has reached 383.436 million securities, with turnovers worth EGP 1.103 billion, exchanged through 42.436 thousand transactions.
Also during the closing session, 185 listed securities have been traded in; 125 declined, 49 advanced; while 11 keeping their previous levels.
Investors’ Activities
Egyptian and Arab investors were net sellers on Tuesday seizing 89.52% and 5.07% respectively of the total markets, with a net equity of EGP 18.519 million and 6.946 million respectively, excluding the deals.
On the other hand, foreign investors remained net buyers capturing 5.41% of the total market, with a net equity of EGP 25.465 million, excluding the deals.
Companies’ Activities
At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price decline by 2.84 percent to EGP 12.30.
Market bellwether Commercial International Bank S.A.E. (COMI.CA) pushed down by 1.41 percent to EGP 36.36.
In the real estate sector, Palm Hills Development Company (PHDC.CA) sank by 1.78 percent to trade at EGP 3.32, Talaat Moustafa Group Holding (TMGH.CA) fell by 2.02 percent to trade at EGP 7.75, and Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) dived by 2.63 percent to close at EGP 24.76.
