EGX Tax Draft Law Woes Investors, Benchmark Ends Below 5547 Pts

The Egyptian Exchange (EGX) has ended Tuesday’s closing session posting gains of EGP 235 million, less than the gains posted during the opening session. The capital market has reached to EGP 376.830 billion during Tuesday’s closing.

The EGX indices ended in green except for the benchmark EGX30 which solely fell.

Egypt’s benchmark index EGX 30 ended Tuesday’s session on a red note as it edged down by 0.03% to close at 5546.42 p; while EGX20 rose by 0.11% to end at 6445.64 p.

Meanwhile, the mid- and small-cap index, the EGX70 went up by 0.47% to conclude at 473.49 pts.  Price index EGX100 inched higher by 0.12% to finish at 799.32 p.

During Tuesday’s closing, the trading volume hit 59.998 million securities, less than Monday’s 70.144 million securities, representing a decrease 10.146 thousand securities. For the traded value, it reached EGP 204.437 million, exchanged 15.484 thousand transactions.

This was after trading in 168 listed securities; 54 declined, 81 advanced; while 33 keeping their previous levels.

Arabs and the non-Arab foreigners’ selling pressures have pared EGX’s gains on Tuesday as they were net sellers seizing 6.65% and 9.77% respectively, of the total markets, with a net equity of EGP 4.140 million and EGP 5.347 million excluding the deals.

Meanwhile, Egyptians were net buyers seizing 83.57% of the total markets, with a net equity of EGP 1.206 million excluding the deals.