Market Watch: Key Egyptian Equity Indices down, Market Cap up EGP8bn

CAIRO (Capital Markets in Africa) – The Egyptian Exchange (EGX) ended Tuesday’s (18^th July 2017) trading session in red, pressured by the selling activity of Arab and foreign investors.

The main index EGX30 lost 1.71% or 140.55 points, and closed at the level of 13,717.53 points. The equal-weighted index EGX50 declined by 1.19% to 2,115.55 points. Similarly, EGX70 went down by 1.51% and closed at 669.21 points, while the broader index EGX100 decreased by 1.58% to 1,544.62 points. However, the market capital rose by 8.64 billion, and closed at EGP 707.99 billion.

In term of traded volumes reached 422.2 million shares, with a total value of EGP 1.4 billion, through 30,300 transactions. Foreign and Arab investors were inclined towards selling with a net EGP 12.7 million, and EGP 254.3 million, respectively, while Egyptians were net buyers at EGP 267 million.

Ezz Steel led the declining blue chip stocks and fell 10%, followed by Domty and Madinet Nasr Housing with 5.58% and 5.33%, respectively. Furthermore, Heavyweight Commercial International Bank – Egypt (CIB) slipped 2.81% to EGP 85.9. On the hand, only four of the blue chip stocks went up, namely Telecom Egypt, Palm Hills, Pioneers, and Eastern Company, gaining 1,15%, 0.31%, 0.22%, and 0.03%, respectively.