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April 5. EGX continues in the red, lots of foreign selling

Egyptian and Arab organizations bought at LE 456.35 million, and LE 521.91 million, respectively, while foreign organizations sold at LE 1.18 billion

By: Hanan Mohamed

Mon, Apr. 5, 2021

The Egyptian Exchange (EGX) ended Monday in red for the second consecutive session, losing around LE 10.5 billion of market capitalization, amid foreign selling.

The benchmark EGX30 dropped 1.54 percent, or 160.23 points, to end at 10,256.92 points.

The equally weighted index EGX 50 declined 4.20 percent, or 85.33 points, to end at 1,947.2 points.

The small and mid-cap index EGX 70 decreased 6.27 percent, or 124.95 points, to close at 1,868.52 points, and the broader index EGX 100 lessened 4.94 percent, or 144.5 points, to close at 2,783.33 points.

Market capitalization lost around LE 10.53 billion, recording LE 635.49 billion, compared to LE 646.02 billion in Sunday’s session.

The trading volume reached 882 billion shares, traded through 40,487 transactions, with a turnover of LE 2.93 billion.

Foreign investors were net sellers at LE 1.17 billion, while Egyptian and Arab investors were net buyers at LE 584.59 million, and LE 588.46 million, respectively.

Egyptian, Arab and foreign individuals were net buyers at LE 128.24 million, LE 66.55 million, and LE 14.36 million, respectively.

Egyptian and Arab organizations bought at LE 456.35 million, and LE 521.91 million, respectively, while foreign organizations sold at LE 1.18 billion.

Arab Moltaka Investments Co, Abou Kir Fertilizers, and the Arab Ceramic CO.- Ceramica Remas were top gainers of the session at 6.61 percent, 4.90 percent and 3.38 percent, respectively.

Meanwhile, Atlas for Investment and Food Industries, Minapharm Pharmaceuticals, and Medical Packaging Company were top losers of the session by 15.29 percent, 9.90 percent, and 9.83 percent, respectively.

On Sunday, EGX ended trading in red, as: dropped 1.40 percent, EGX 50 declined 1.50 percent, EGX 70 decreased 1.02 percent, and EGX 100 lessened 1.19 percent.