EGX Loses EGP 350 Mln, OTMT 2.22% Down Ahead of Court Decision

Ahead of the Supreme Constitutional Court’s decision on the Political Isolation law and the People’s Assembly (Lower House), the Egyptian Exchange (EGX) had on Thursday midday posted losses of EGP 350 million  as the capital market has reached EGP 320.534 billion according to data compiled by Amwal Al Ghad at 10:50 GMT (12:50 local time).

The main index, EGX30 inched lower 0.25% to hit 4410.44 p.  EGX20 edged down 0.38% to reach 4975.27 p.

Meanwhile, the mid- and small-cap index, the EGX70 shed 0.08% to hit 389.79 p. Price index EGX100 went down 0.24% to reach 675.44 p.

Traded volume reached 47.933 million securities worth EGP 134.152 million, exchanged through 6.691 thousand transactions.

This was after trading in 129 listed securities; 51 declined and 59 advanced while 19 keeping their previous levels.

Non-Arab Foreigners and  Arabs were net sellers seizing 44.4% and 6.19% respectively, of the total markets, with a net equity of EGP 32.662 million and EGP 1.871 million excluding the deals.

On the other hand, Egyptians were net buyers seizing 49.41% of the total markets, with a net equity of EGP 34.534 million excluding the deals.

EGX’s leading shares witnessed collective downwards led by shares of Orascom Telecom Media & Technology Holding (OTMT.CA) tumbled 2.22% hitting EGP 1.32. Shares of Commercial International Bank- Egypt (COMI.CA) inched lower 0.99% reaching EGP 24.07.

Shares owned by EFG-Hermes Holding (HRHO.CA) edged down 0.50% ending at EGP 9.94. Shares of Orascom Construction Industries (OCIC.CA) dipped 0.07% reaching  242.98.

Shares of Orascom Telecom Holding (OTH) (ORTE.CA) kept their previous levels to reach EGP 2.94.