Egyptian Exchange Loses EGP 5.5 Bln, Orascom Telecom 3.24% Down; Early Trading

On Sunday’s early session, the EGX posted losses of EGP 5.5 billion as the capital market has reached EGP 347.811 billion at 9:36 GMT (11:36 in Cairo).

The main index, EGX30 dived 2.18% to reach 4863.54 p. EGX20 inched lower 2.46% to hit 5561.54 p.

Meanwhile, the mid- and small-cap index, the EGX70 edged down 1.45% to reach 424.11 p. Price index EGX100 sank 1.58% to hit 763.09 p.

Traded volume reached 53.212 million securities worth EGP 18.659 million, exchanged through 3.815 thousand transactions.

This was after trading in 120 listed securities; 105 declined and 4 advanced while 11 keeping their previous levels.

Non-Arab Foreigners and Arabs were net sellers seizing 11.71% and 8.3% respectively, of the total markets, with a net equity of EGP 7.864 million and EGP 2.511 million, excluding the deals.

On the other hand, Egyptians were net buyers seizing 79.98% of the total markets, with a net equity of EGP 10.375 million excluding the deals.

EGX’s leading shares witnessed collective downwards led by Orascom Telecom Holding (OTH) (ORTE.CA) dived 3.24% to reach EGP 3.29. Orascom Telecom Media & Technology Holding (OTMT.CA) sank 2.92% to reach EGP 1.33. EFG-Hermes Holding (HRHO.CA) also edged down 2.85% to hit EGP 10.90. Orascom Construction Industries (OCIC.CA) went down 2.44% to hit EGP 271.  Commercial International Bank- Egypt (COMI.CA) inched lower 1.80% to hit EGP 25.70. Additionally, Telecom Egypt Co. (ETEL.CA) down by 1.58% to reach EGP 12.42.

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