The Egyptian Exchange (EGX) extended its decline during Thursday's trading session, landing in the red territory and witnessing a market capitalization drop of approximately EGP 41.94 billion, driven by both domestic and foreign selling pressures.
The EGX30 benchmark index fell by 2.36%, or 665.02 points, concluding the day at 27,559.35 points. Similarly, the EGX 70 index, representing small and mid-cap stocks, experienced a decline of 1.80%, or 117.13 points, ending at 6,399.02 points. The broader EGX 100 index also saw a decrease of 1.96%, or 181.58 points, settling at 9,079.26 points.
Market capitalization saw a reduction of about EGP 41.94 billion, totaling EGP 1.859 trillion compared to EGP 1.901 trillion recorded in Wednesday's trading session.
Trading activity involved 523.05 million shares, exchanged through 80,948 transactions, generating a turnover of EGP 2.65 billion.
Arab investors were net sellers, offloading stocks worth EGP 237.63 million, whereas Egyptian and foreign investors were net buyers, acquiring shares valued at EGP 167.12 million and EGP 70.5 million, respectively.
Top gainers of the session included National Housing for Professional Syndicates, Osool ESB Securities Brokerage, and Ismailia Development and Real Estate Co, with gains of 19.99%, 13.33%, and 4.96%, respectively.
Conversely, Concrete Fashion Group for Commercial & Industrial Investment, Qatar National Bank Alahly, and Orascom Development Egypt were among the top losers of the day, experiencing declines of 10%, 7.43%, and 6.53%, respectively.
