Egyptian Exchange Loses EGP 4 Bln Ahead of Presidential Elections; Closing

Ahead of the presidential elections in Egypt which will start on May 23rd and 24th, the EGX lost on Sunday’s closing session,EGP 4.24 billion as the capital market has amounted to EGP 344.243 billion.

The main index, EGX30 sank 2.01% to close at 4791.91 p. EGX20 inched lower 1.98% to close at 5513.53 p.

Meanwhile, the mid- and small-cap index, the EGX70 sagged 1.11% to close at 415.21 p. Price index EGX100 went down 1.25% to close at 761.48 p.

Traded volume reached 45.812 million securities worth EGP 246.156 million, exchanged through 14.342 thousand transactions.

This was after trading in 168 listed securities; 119 declined and 33 advanced while 16 keeping their previous levels.

Egyptians and non-Arab Foreigners were net sellers seizing 94.27% and 5.08% respectively, of the total markets, with a net equity of EGP 9.493 million and EGP 1.836 million, excluding the deals.

On the other hand, Arabs were net buyers seizing 0.65% of the total markets, with a net equity of EGP 11.329 million excluding the deals.

EGX’s leading shares witnessed collective downwards led by EFG-Hermes Holding (HRHO.CA) which dived 5.12% to close at EGP 11.13.  Orascom Telecom Holding (OTH) (ORTE.CA) sank 3.50% to finish EGP 3.03. Orascom Telecom Media & Technology Holding (OTMT.CA) edged down 2.96% to conclude EGP 1.31. Orascom Construction Industries (OCIC.CA) fell 2.81% to close at EGP 268.14.

Additionally, Commercial International Bank- Egypt (COMI.CA) went down 1.92% to end at EGP 25.05.