EGX hits 7-month low; market cap sheds EGP19bn

Cairo – Mubasher: The Egyptian Exchange finished Thursday in the red territory after the International Monetary Fund (IMF) announced that Egypt will start imposing the capital gains tax on bourse trades no later than its fiscal year 2017/18.

The benchmark index EGX30 lost 497.7 points or 3.8% to 12,806.77 points, recording the lowest mark since 26 June 2016.

The small and mid-cap index EGX70 fell 3.21% to 460.6 points.

The broader index EGX100 and the equal-weighted index EGX50 ended down at 1,127.7 points (-2.99%) and 1,950.3 points (-4.99%).

Trading value reached EGP 1.45 billion after 470.8 million shares were traded.

Market capitalization shed EGP 19.3 billion to close at EGP 612.5 billion.

Nationals were net sellers by EGP 119.9 million, while Arabs and foreigners were net buyers by EGP 22.5 million and EGP 97.4 million, respectively.

By category, institutions were net sellers by EGP 21 million, while individuals were placed as buyers.  

Most blue-chip stocks ended the session on a lower note, including CIB (-3.36%), EFG-Hermes (-5.9%), and TMG (-4.37%). Their stock quotes were at EGP 75.4, EGP 26.19, and EGP 9.4 per share.  

MUBASHER Contribution Time: 19-Jan-2017 13:57 (GMT)
MUBASHER Last Update Time: 19-Jan-2017 13:57 (GMT)