Indexes of the Egyptian Exchange (EGX) ended Monday’s session collectively higher as market capitalization gained EGP 1.4 billion, with significant weakened turnover.
Benchmark index EGX30 rose slightly by 0.14%, gaining almost 10.86 points, at 7886.08 points.
Small and mid-cap index EGX70 also increased by 0.52% or 3.07 points closing at 592.16 points.
The broader index EGX100 also moved up 0.40% or 4.14 points at 1038.42 points.
Market capitalization gained around EGP 1.4 billion to reach EGP 48.8 billion, compared with EGP 46.4 billion recorded on Sunday’s session.
Turnover hit about EGP 481,6 million upon exchanging 171,17 million shares in 22.6 thousand transactions. The market’s overall value recorded EGP 559 million upon exchanging 174,6 million shares.
Stock market expert and analyst, Mohamed Gaballah, Trading Manager at Al Tawfeek Brokerage Company, said that EGX saw sideways movement between 8850 and 8950 points due to the weakened turnover.
He expects the sideways movement to continue until indices cross any of the two levels, whether upward to 8150 points or downward to 7750 points in the short term.
Egyptian and foreign traders were net buyers accounting for EGP 2.9 million and EGP 6.3 million respectively; whereas Arab investors carried out selling activities amounted to more than EGP 9.3 million.
Retail investors dominated more that 69.8% of transactions, as Egyptian and foreign investors carried out heavy buying transactions with EGP 3.5 million and 410 thousand, against heavy sales by Arab investors by EGP 16.2 million.
Meanwhile, Institutions made up the remaining 30.2%, as Arab and foreign investors were net buyers by EGP 6.9 million and EGP 5.9 million respectively. Tracking stock performance, Housing & Development Bank was the top loser declining by 5.62% to EGP 18.47, followed by Alexandria National Company for Financial Investment, which fell 4.94% to EGP 14.44. Golden Textiles & Clothes Wool also fell by 2.95% to EGP 6.58.
International Co For Investment & Development was the top gainer, soaring 9.9% to EGP 30.76, followed by Delta Construction & Rebuilding which rose by 9.84% to EGP 10.49.
On Sunday, indexes of EGX ended collectively lower as benchmark index EGX30 fell 0.31%, losing almost 24.24.96 points, at 7875.22 points.
Small and mid-cap index EGX70 also retreated by 1.06% or 6.30 points closing at 589.09 points.
The broader index EGX100 also declined by 0.93% or 9.70 points at 1034.29 points. Market capitalization lost around EGP 2 billion to reach EGP 467.48 billion, compared with EGP 469.5 billion recorded on Thursday’s session.
Turnover hit about EGP 596 million upon exchanging 228 million shares in 28.8 thousand transactions. The market’s overall value recorded EGP 1.4 billion upon exchanging 231 million shares.
Benchmark index EGX30 rose slightly by 0.14%, gaining almost 10.86 points, at 7886.08 points.
Small and mid-cap index EGX70 also increased by 0.52% or 3.07 points closing at 592.16 points.
The broader index EGX100 also moved up 0.40% or 4.14 points at 1038.42 points.
Market capitalization gained around EGP 1.4 billion to reach EGP 48.8 billion, compared with EGP 46.4 billion recorded on Sunday’s session.
Turnover hit about EGP 481,6 million upon exchanging 171,17 million shares in 22.6 thousand transactions. The market’s overall value recorded EGP 559 million upon exchanging 174,6 million shares.
Stock market expert and analyst, Mohamed Gaballah, Trading Manager at Al Tawfeek Brokerage Company, said that EGX saw sideways movement between 8850 and 8950 points due to the weakened turnover.
He expects the sideways movement to continue until indices cross any of the two levels, whether upward to 8150 points or downward to 7750 points in the short term.
Egyptian and foreign traders were net buyers accounting for EGP 2.9 million and EGP 6.3 million respectively; whereas Arab investors carried out selling activities amounted to more than EGP 9.3 million.
Retail investors dominated more that 69.8% of transactions, as Egyptian and foreign investors carried out heavy buying transactions with EGP 3.5 million and 410 thousand, against heavy sales by Arab investors by EGP 16.2 million.
Meanwhile, Institutions made up the remaining 30.2%, as Arab and foreign investors were net buyers by EGP 6.9 million and EGP 5.9 million respectively. Tracking stock performance, Housing & Development Bank was the top loser declining by 5.62% to EGP 18.47, followed by Alexandria National Company for Financial Investment, which fell 4.94% to EGP 14.44. Golden Textiles & Clothes Wool also fell by 2.95% to EGP 6.58.
International Co For Investment & Development was the top gainer, soaring 9.9% to EGP 30.76, followed by Delta Construction & Rebuilding which rose by 9.84% to EGP 10.49.
On Sunday, indexes of EGX ended collectively lower as benchmark index EGX30 fell 0.31%, losing almost 24.24.96 points, at 7875.22 points.
Small and mid-cap index EGX70 also retreated by 1.06% or 6.30 points closing at 589.09 points.
The broader index EGX100 also declined by 0.93% or 9.70 points at 1034.29 points. Market capitalization lost around EGP 2 billion to reach EGP 467.48 billion, compared with EGP 469.5 billion recorded on Thursday’s session.
Turnover hit about EGP 596 million upon exchanging 228 million shares in 28.8 thousand transactions. The market’s overall value recorded EGP 1.4 billion upon exchanging 231 million shares.
Source:
Mubasher Exclusive
