EGX closes on dark red note on Jan. 31

Egypt’s Stock Exchange (EGX) closed on dark red note on Wednesday, with the main index EGX30 fell by 6.81 per cent to 28,281.91.

The small to mid-sized enterprises’ index, EGX70, declined by 8.84 per cent to 6,326.98.

EGX100 drooped by 8.87 per cent to 8,985.61.

The market cap reached 1,968,233,586,655 Egyptian pounds.

The Arabs’ and non-Arabs foreigners transactions were mainly buying with 348,753,279 Egyptian pounds and 173,109,792 Egyptian pounds, respectively. Meanwhile, Egyptians were net sellers with a total of 521,863,071 Egyptian pounds.

According to Hossam Eid, investment manager at the International Securities Brokerage Company, the EGX30 slipped into correction as profit-taking increased on leading stocks, which had been witnessing positive performance. As a result, this has driven the main index to fall below the main support level of 29,000, he added. The same case happened with the EGX70, which also fell into correction due to profit-taking transactions.

Top gainers on Wednesday

The shares of Development & Engineering Consultants (DAPH.CA) rose by 8.54 per cent to close at the price of 59.750 Egyptian pounds pounds a share.

The snares of Minapharm Pharmaceuticals (MIPH.CA) climbed by 6.07 per cent to the price of 263.870 Egyptian pounds a share.

The shares of Contact Financial Holding SAE (CNFN.CA) soared by 5.29 per cent closing at the price of 3.980 Egyptian pounds a share.

Top losers on Wednesday

The shares of Electro Cable Egypt (ELEC.CA) dropped by 20.00 per cent to close at 3.520 Egyptian pounds a share.

The shares of Iron And Steel for Mines and Quarries (ISMQ.CA) declined by 18.40 per cent, to the price of 3.770 Egyptian pounds a share.

The shares of Misr Chemical Industries (MICH.CA) fell by 16.46 per cent, to close at the price of 51.020 Egyptian pounds a share.