Egypt Shares Lose EGP7.6 billion on Wednesday
As the formation of a new government is on the process, Egypt’s shares ended trading on Wednesday lower with losses totalling 7.6 billion pounds. Local selling pressures dragged Egypt’s main stock index – EGX30 to close below 8000 points.
Additionally, the Egyptian Exchange (EGX) indices were wavering in red notes on Wednesday afternoon.
Indices
Egypt’s benchmark index EGX30 ended 0.39 per cent lower to 7998.3 pts; while EGX20 finished 0.26 per cent up to 9580.99 pts.
Meanwhile, the mid- and small-cap index, the EGX70 pushed down by 2.44 per cent to close at 639.03 pts. The price index EGX100 sank 1.93 per cent to conclude at 1099.12 pts.
Furthermore, the market capitalization recorded EGP 483.019 billion on Wednesday.
Turnovers below One Billion Pounds
Through the closing session of Wednesday, the trading volume has reached 293.802 million securities, with turnovers worth EGP 884.091 million, exchanged through 35.723 thousand transactions.
Also during the closing session, 186 listed securities have been traded in; 110 declined, 59 advanced; while 17 keeping their previous levels.
Investors’ Activities
Egyptian investors remained net sellers on Wednesday capturing 84.71% of the total market, with a net equity of EGP 51.984 million, excluding the deals.
On the other hand, foreign and Arab investors were net buyers seizing 6.82% and 8.46% respectively of the total markets, with a net equity of EGP 13.496 million and 38.487 million respectively, excluding the deals.
Companies’ Activities
At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price decline by 0.96 percent to EGP 12.40.
Market bellwether Commercial International Bank S.A.E. (COMI.CA) went down by 0.55 percent to EGP 36.30.
In the real estate sector, Palm Hills Development Company (PHDC.CA) dropped by 0.30 percent to trade at EGP 3.37, Talaat Moustafa Group Holding (TMGH.CA) inched lower by 0.89 percent to trade at EGP 7.91, and Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) dipped by 0.71 percent to close at EGP 25.11.
