EGX Main Index Falls Below 4100 Pts On Foreign Selling Pressures; Closing

Amid the ruling military council’s controversial Sunday declaration, the Egyptian Exchange (EGX) had on Tuesday closing posted losses of EGP 8.3 billion  as the capital market has reached EGP 306.020 billion.

The main index, EGX30 dived 4.23% to end at 4087.45 p.  EGX20 sank 4.25% to close at 4617.49 p.

Meanwhile, the mid- and small-cap index, the EGX70 inched lower 2.38% to conclude at 377.34 p. Price index EGX100 went down 3.03% to finish at 643.57 p.

Traded volume reached 75.068 million securities worth EGP 243.827 million, exchanged through 17.068 thousand transactions.

This was after trading in 161 listed securities; 137 declined and 14 advanced while10 keeping their previous levels.

The main reason behind EGX’s downwards was that the non-Arab Foreigners were net sellers seizing 14.05% of the total markets, with a net equity of EGP 19.996 million excluding the deals

Egyptians and Arabs  were net buyers seizing 83.75% and 2.2% respectively, of the total markets, with a net equity of EGP 11.391 million and EGP 8.604 million excluding the deals.

EGX’s leading shares witnessed collective downwards led by the shares owned by Commercial International Bank- Egypt (CIB) (COMI.CA) which sagged 5.35% to hit EGP 22.10. Shares owned by Orascom Construction Industries (OCIC.CA) have set for the steepest drop since October by edging down 5.14% to hit EGP 219.20.

Shares of EFG-Hermes Holding (HRHO.CA) had poised for the lowest close since July 2005 by going down 4.57% to reach EGP 9.18.

Additionally, shares of Orascom Telecom Holding (OTH) (ORTE.CA) dived 3.61% to hit EGP 2.67. Shares of Orascom Telecom Media & Technology Holding (OTMT.CA) dipped 1.54% to reach EGP 1.28.