EGX30 recorded roughest drop since June 2016, losing 783.96 pts

CAIRO – 22 September 2019: The Egyptian Exchange (EGX) ended first trading session of the week in red, and the benchmark has recorded the roughest drop since June 2016, to hit its lowest level since August 7, 2019.
The benchmark EGX 30 steeped 5.32 percent, or 783.96 point, to close at 13,958.11 points.
The equally weighted index EGX 50 declined 6.88 percent, or 145.27 points, to end at 1,966.63 points.
The small and mid-cap index EGX 70 lessened 5.66 percent, or 30.55 points, to close at 509.02 points, and the broader index EGX 100 decreased 5.68 percent, or 81.82 points, to 1,358.04 points.
Market capitalization lost LE 35.73 billion, recording LE 702.3 billion, compared to LE 738.03 billion in Thursday’s session.
The trading volume reached 323.26 million shares, traded through 25,781 transactions, with a turnover of LE 837.56 million.
Foreign investors were net buyers at LE 153.68 million, while Egyptian and Arab investors were net sellers at LE 103.85 million, and LE 49.83 million, respectively.
Egyptian and foreign individuals were net sellers at LE 50.82 million, and LE 14.03 million, respectively, while Arab individuals were net buyers at LE 2.03 billion.
Egyptian and Arab organizations sold at LE 53.02 million, and LE 51.86 million, respectively, while foreign organizations bought at LE 167.72 million.
Gharbia Islamic Housing Development, Alexandria New Medical Center, and Misr Beni Suef Cement were top gainers of the session by 8.66 percent, 2.11 percent and 0.53 percent, respectively.
Meanwhile, Porto Group, Asek Company for Mining – Ascom, and Misr Hotels were top losers of the session by 11.62 percent, 11.16 percent, and 9.95 percent, respectively.
EGX has suspended Sunday its trading session for 30 minutes after the broader index EGX 100 fell 5 percent for the first time since November 2016.
The bourse flagged in red during the mid-session of Sunday, amid Egyptian selling.
In Thursday, EGX ended session on mixed note, as EGX30 inched down 0.02 percent, EGX70 lessened 0.23 percent, EGX100 decreased 0.04 percent, while EGX50 rose 0.92 percent.