Egypt’s bourse starts week in red, losing EGP 3.4 bln

The Egyptian Exchange (EGX) started the week in red, losing 3.4 billion Egyptian pounds ($210.6 million) of market capitalization, amid Arab and foreign selling, according to Egypt Today on Sunday.

The benchmark EGX 30 lessened 0.32 percent, or 44.42 points, to close at 14,050.16 points.

The equally weighted index EGX 50 declined 0.71 percent, or 14.59 points, to end at 2,044.66 points.

The small and mid-cap index EGX 70 dipped 0.64 percent, or 3.5 points, to close at 539.25 points, and the broader index EGX 100 inched down 0.70 percent, or 9.94 points, to 1,417.56 points.

Market capitalization lost 3.4 billion pounds, recording 710.49 billion pounds, compared to 713.91 billion pounds in Thursday’s session.

The trading volume reached 49.9 million shares, traded through 10,545 transactions, with a turnover of  252.47 million pounds.

Egyptian investors were net buyers at 23.49 million pounds, while Arab and foreign investors were net sellers at 7.4 million pounds, and 16.09 million pounds, respectively.

Egyptian and Arab individuals were net sellers at 13.52 million pounds, and 1.12 million pounds, respectively, while foreign individuals were net buyers at 166,000 pounds.

Arab and foreign organisations sold at 6.28 million pounds, and 16.26 million pounds, respectively, while Egyptian organizations bought at 37.01 million pounds.

Atlas For Investment and Food Industries, Arab Pharmaceuticals, and Faisal Islamic Bank of Egypt – In U.S. Dollars were top gainers of the session by 4.44 percent, 2.89 percent and 1.98 percent, respectively.

Meanwhile, Egyptian Real Estate Group, El Kahera Housing, Al Arafa For Investment and Consultancies were top losers of the session by 7.19 percent, 6.36 percent, and 5.98 percent, respectively.

On Thursday, EGX ended Thursday’s session on mixed note, as EGX 30 lessened 0.91 percent, and EGX 50 declined 0.27 percent, while EGX 70 rose 0.44 percent, and EGX 100 inched up 0.01 percent.