EGX 30 Dives 2.30%, Ends Monday Below 5380 Pts

The Egyptian Exchange (EGX) has ended Monday’s session incurring substantial losses of EGP 7.18 billion driven by non-Arab foreign selling pressures. The capital market has reached to EGP 367.162 billion during Monday’s closing.

The EGX indices ended in red notes.

Egypt’s benchmark index EGX30 ended Monday’s session on a green note as it sank by 2.30% to close at 5375.12 p; while EGX20 pushed down by 2.23% to end at 6303.27 p.

Meanwhile, the mid- and small-cap index, the EGX70 dived by 3.03% to conclude at 456.75 pts.  Price index EGX100 fell by 2.72% to finish at 771.93 p.

During Monday’s closing, the trading volume hit 216.360 million securities, higher than Sunday’s 94.224 million securities, representing an increase of 122.136 thousand securities. For the traded value, it reached EGP 472.151 million, exchanged 25.909 thousand transactions.

This was after trading in 174 listed securities; 150 declined, 10 advanced; while 14 keeping their previous levels.

The non-Arab foreigners’ selling pressures have driven EGX’s losses on Monday as they were net sellers seizing 23.09% of the total markets, with a net equity of EGP 13.652 million excluding the deals.

Meanwhile, Egyptians and Arabs were net buyers seizing 69.92% and 6.98% respectively, of the total markets, with a net equity of EGP 2.322 million and EGP 11.330 million excluding the deals.

For the leading EGX-listed firms’ stocks, Orascom Telecom Media And Technology Holding SAE (OTMT.CA) surged by 2.90% to end at EGP 0.71 amid the announcing of its standalone financial statements which revealed a net profit of EGP 6.307 million for the fiscal year of 2012 that ended on December 31st, 2012. OTMT’s profit before excluding interests, taxes, depreciation and amortization have hit EGP 5.537 million.

Orascom Telecom Holding SAE (ORTE.CA)’s stock dropped by 1.15% to EGP 4.29.

Orascom Construction Industries – OCI (OCIC.CA)’s stock pushed down by 2.74% to EGP 252.09 amid the Egyptian prosecutor-general has issued an order to place a travel ban on Orascom Construction Industries (OCI) (OCIC.CA) founder Onsi Sawiris and its CEO Nassef Sawiris, an official judicial source told state-owned news agency MENA on Sunday.

According to the source, this move by the prosecution is part of an ongoing investigations of the two businessmen on charges of tax evasion in the sale of OCI’s cement unit Orascom Building Materials Holding to French cement Lafarge in 2008 for $15 billion.