Profit-takers Push Stock Market Down, EGX30 below 7810

Egypt’s stock market closed dramatically lower on Monday with substantial losses totalling 12 billion Egyptian pounds. Dragged by heavy profit-takers, the main stock index – EGX30 sank below 7810 points.

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

Indices

Egypt’s benchmark index EGX30 closed 3.55 per cent lower to 7805.03 pts; while EGX20 finished 3.50 per cent down to 9403.21 pts.     
On the contrary, the mid- and small-cap index, the EGX70 dived by 3.64 per cent to end at 595.38 pts. The price index EGX100 also pushed down by 3.33 per cent to conclude at 1041.26 pts.  
Furthermore, the market capitalization recorded EGP 469.520 billion on Monday.

Turnovers above One Billion and Half
Through the closing session of Monday, the trading volume has reached 322.745 million securities, with turnovers worth EGP 1.797 billion, exchanged through 37.598 thousand transactions.             
Also during the closing session, 184 listed securities have been traded in; 163 declined, 7 advanced; while 14 keeping their previous levels.

Investors’ Activities

Egyptian and the non-Arab foreign investors were net sellers on Monday seizing 48.21% and 32.53% respectively of the total markets, with a net equity of EGP 87.540 million and EGP 568.724 million respectively, excluding the deals.

On the other hand, Arab investors were net buyers capturing 19.27% of the total market, with a net equity of EGP 656.264 million, excluding the deals.

Companies’ Activities

At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price decline on Monday by 0.79 percent to EGP 12.55.

Market bellwether Commercial International Bank S.A.E. (COMI.CA) inched down by 2.37 percent to EGP 36.25.

In the real estate sector, Palm Hills Development Company (PHDC.CA) sank by 5.85 percent to trade at EGP 3.70, Talaat Moustafa Group Holding (TMGH.CA) plummeted by 2.01 percent to trade at EGP 7.80, while Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) tumbled by 5.69 percent to close at EGP 25.70.

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