Egypt’s EGX30 Retreats below 8100 over Foreign Sell-offs

Egypt’s stocks ended lower on Wednesday with losses totalling 691 million pounds amid Arab and non-Arab foreign profit-takers. Consequently, the country’s main stock index – EGX30 retreated below 8100 points.

Meanwhile, the Egyptian Exchange (EGX) indices were wavering mostly in red notes on Wednesday afternoon.

Indices

Egypt’s benchmark index EGX30 closed 0.15 per cent lower to 8096.94 pts; while EGX20 finished 0.17 per cent up to 9781.04 pts.     
Meanwhile, the mid- and small-cap index, the EGX70 dropped by 0.33 per cent to end at 660.06 pts. The price index EGX100 also decreased by 0.19 per cent to conclude at 1125.74 pts.  
Furthermore, the market capitalization recorded EGP 494.523 billion on Wednesday.

Turnovers above One Billion Pounds
Through the closing session of Wednesday, the trading volume has reached 357.323 million securities, with turnovers worth EGP 1.185 billion, exchanged through 44.146 thousand transactions.             
Also during the closing session, 184 listed securities have been traded in; 100 declined, 67 advanced; while 17 keeping their previous levels.

Investors’ Activities

The non-Arab foreign investors were net sellers on Wednesday seizing 5.47% of the total market, with a net equity of EGP 68.793 million, excluding the deals.

On the other hand, Egyptian and Arab investors were net buyers capturing 87.53% and 7% respectively of the total markets, with a net equity of EGP 40.606 million and EGP 28.186 million respectively, excluding the deals.

Companies’ Activities

At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price decline on Wednesday by 0.63 percent to EGP 12.63.

Market bellwether Commercial International Bank S.A.E. (COMI.CA) inched down by 1.19 percent to EGP 36.60.

In the real estate sector, Palm Hills Development Company (PHDC.CA) jumped by 5.37 percent to trade at EGP 3.73, Talaat Moustafa Group Holding (TMGH.CA) also rose by 0.24 percent to trade at EGP 8.21, and Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) went higher by 1.20 percent to close at EGP 25.26.

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