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EGX indices end in red zone, equities shed $127m

EGX indices end in red zone, equities shed $127m
Photo Credit: Arabianeye-Reuters

Cairo – Mubasher: The Egyptian Exchange (EGX) indices reiterated collectively on Sunday, as the market capitalization lost EGP 997.5 million ($127 million) pressured by Arab institutions and retail traders sell-off.

The benchmark index EGX30 slid 0.41% or 33.22 points to 8,158.31 points.
Meanwhile, the new launched equal-weighted index EGX50 went down 0.27% to 1,453.67 points in its first trading day.

EGX launched EGX50, a new equal-weighted index, which will include the top 50 companies in terms of activity and liquidity

Similarly, the small and mid-cap index EGX70 edged down 0.24% to 458 points. The broader index EGX100 fell 0.56% to 938.84 points.

Sunday’s turnover amounted to EGP 935.5 million, while traded volume reached 256 million shares executed through 28,000 transactions.

Arab traders were net sellers by EGP 15.3 million, while national and foreign traders were net buyers by EGP 9.2 million and EGP 6.1 million in a row.

Out of the 156 companies traded today, decliners outnumbered advancers by 72 to 49, while 35 others remained unchanged.

Declining stocks included International Investment, Beltone and Land reclamation by 4% to 6%.

On the positive front, advancing stocks included Themar, Gulf Canadian Real Estate and Rowad Tourism by 6.8% to 7.7%.