Cairo – Mubasher: The Egyptian Exchange (EGX) indices declined collectively on Thursday on selling pressures by foreign institutions, where the market capitalization shed around EGP 3.4 billion.
The benchmark index EGX30 went down 1.13% or 92.84 points to close at 8,131.49 points. Similarly, the small and medium caps index EGX70 slide 0.12% to 362.9 points.
The weighted index EGX50 slide 1.31% to 1,382.84 points, while the broader index EGX100 remained unchanged at the level of 811 points.
The Commercial International Bank (CIB), largest constitute of EGX30 eased 1.05% to EGP 48.96 with trading value of EGP 40.6 million.
Foreign investors ended as net sellers with EGP 58.1 million, while local and Arab investors ended as net buyers with EGP 56.5 million and EGP 1.6 million respectively.
The market witnessed 128.3 million shares changed hands worth EGP 419.6 million.
Out of 166 stocks traded today, decliners outnumbered advancers by 95 to 37, while 34 stocks remained unchanged.
Index heavyweights with the likes of TMG Holding, EFG Hermes and CIB dragged the index down as each fell 4.4%, 1.5%, and 1.1%, respectively. Eastern Company, 2.4% up, Cairo Oils and Soap, 0.8% up, and Arabian Cement Company, 0.4% up, were the sole EGX30 constituents to buck the downward market trend and close in the green territory.
Egyptian Iron and Steel, Emaar Misr, and Arab Cotton Ginning bore the brunt of today’s selling wave as each plunged 7.9%, 4.8%, and 4.5%, respectively.
