EGX hits 27-month low Wednesday

Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) closed Wednesday’s trading session down, pressured by foreign sell-offs.

The benchmark EGX30 index lost 555.35 points, or 3.79%, finishing the session at 14,098.65 points, its lowest level since June 2016.

The small- and mid-cap EGX70 index fell 3.65% to 694.52 points, while the broader EGX100 index dropped 3.88% to 1,768 points.

Trading volume amounted to nearly 271 million shares exchanged at a turnover of EGP 968.3 million through 27,600 transactions.

Market capitalisation lost EGP 29.3 billion and closed at EGP 785.6 billion.

Foreign investors were net sellers with EGP 174.6 million, while Egyptian and Arab investors were net sellers with EGP 118.8 million and EGP 55.8 million, respectively.

The heavyweight Commercial International Bank (CIB) shed 2.88% at EGP 80.03, with a turnover of EGP 103.6 million.

Amer Group led declining blue chips with 10%, followed by KIMA and HADISOLB, which tumbled 10% and 9.94%, respectively.

On the other hand, only three stocks rose, including Abu Dhabi Islamic Bank (ADIB), Ghabbour Auto and EFG Hermes, leveling up 9.99%, 8.82%, and 0.31%, respectively.

Mubasher Contribution Time: 19-Sep-2018 13:57 (GMT)
Mubasher Last Update Time: 19-Sep-2018 13:59 (GMT)