Driven by Profit-taking, Egypt Shares Lose EGP3.4 billion on Monday

Driven by local investors’ profit-taking process, Egypt’s stock market closed further lower on Monday incurring losses totalling 3.4 billion Egyptian pound. Accordingly, the main stock index, EGX30 retreated to 8165 level.

Meanwhile, the EGX indices were wavering in red notes during the closing session on Monday.


Egypt’s benchmark index EGX30 ended 0.99 per cent lower to 8165.96 pts; while EGX20 finished 1.34 per cent down to 9759.52 pts.     
In addition, the mid- and small-cap index, the EGX70 inched down by 0.78 per cent to end at 606.48 pts. The price index EGX100 fell by 0.63 per cent to conclude at 1060.69 pts.  
Furthermore, the market capitalization recorded EGP 476.324 billion on Monday.

Turnovers below EGP1 bln
Through the closing session of Monday, the trading volume has reached 292.195 million securities, with turnovers worth EGP 884.296 million, exchanged through 32.791 thousand transactions.               
Also during the closing session, 184 listed securities have been traded in; 132 declined, 26 advanced; while 26 keeping their previous levels.

Investors’ Activities

Egyptian investors were net sellers on Monday seizing 77.09% of the total market, with a net equity of EGP 32.732 million, excluding the deals.

On the other hand, Arab and the non-Arab foreign investors were net buyers capturing 7.93% and 14.98% respectively of the total markets, with a net equity of EGP 985.401 thousand and EGP 31.747 million respectively, excluding the deals.

Companies’ Activities

At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price decline on Monday by 0.55 percent to EGP 12.73.

Market bellwether Commercial International Bank S.A.E. (COMI.CA) tumbled by 0.24 percent to EGP 36.84.

In the real estate sector, Palm Hills Development Company (PHDC.CA) dived by 6.11 percent to trade at EGP 3.84, Talaat Moustafa Group Holding (TMGH.CA) pushed down by 1.88 percent to trade at EGP 8.87, in addition the Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) sank by 3.53 percent to close at EGP 26.00.