EGX 30 Ends Below 5320 Pts, OCI Dives 2.53%

The Egyptian Exchange (EGX) has ended Wednesday’s session incurring losses of EGP 4.45 billion driven by foreign sellers.

The capital market has reached to EGP 365.718 billion during Wednesday’s closing session.

The EGX indices ended Wednesday in dark red notes.

Egypt’s benchmark index EGX30 pushed down by 1.61% to close at 5317.63 p; while EGX20 dropped by 1.56% to end at 6286.37 p.

Meanwhile, the mid- and small-cap index, the EGX70 fell by 1.56% to conclude at 456.63 pts.  Price index EGX100 sank by 1.58% to finish at 765.67p.

During Wednesday’s closing, the trading volume hit 106.389 million securities, higher than Tuesday’s 89.856 million securities, representing an increase of 16.533 thousand securities. For the traded value, it reached EGP 307.997 million, exchanged 15.920 thousand transactions.

This was after trading in 164 listed securities; 120 declined, 21 advanced; while 23 keeping their previous levels.

The non-Arab foreigners’ selling pressures driven EGX’s closing as they were net sellers seizing 28.17% of the total markets, with a net equity of EGP 55.680 million excluding the deals.

Meanwhile, local and Arabs were net buyers seizing 65.04% and 6.79% respectively, of the total markets, with a net equity of EGP 46.987 million and EGP 8.693 million excluding the deals.

For the leading EGX-listed firms’ stocks, Orascom Construction Industries – OCI (OCIC.CA)’s stock dived by 2.53% to close at EGP 239.95 ahead of the upcoming meeting on Wednesday afternoon with the Egyptian Tax authority over the tax evasion claims.