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EGX declines Thursday on Arab, local sales

EGX declines Thursday on Arab, local sales
(Photo Credit: Arabianeye-Reuters)

Cairo - Mubasher: The Egyptian Exchange (EGX) ended Thursday’s trading session on a low note on the back of Arab and local investor selling.

The benchmark EGX30 index lost 1.15% or 145.6 points, closing at 12,525.69 points.

The EGX70 index saw a slight increase by 0.07% to 587.01 points, while the EGX100 went down by 0.13% to 1,351.78 points.

The equal-weighted EGX50 closed at the level of 2,029.95 points, losing 0.07%.

Oriental Weavers, Amer Group Holding, Arabian Cement, Orascom Construction and Porto Group led the red list with losses ranging between 4% and 8.38%.

On the other hand, Domty, Juhayna, Universal and Eastern Company’s gains ranged between 0.90% and 5.39%.

Egyptian and Arab investors were net sellers with EGP 98 million and EGP 14.3 million, respectively, while foreigner buying netted EGP 112.4 million.

Traded volumes reached 198.6 million shares traded at a total value of EGP 811.7 million, through 26,200 transactions

Commercial International Bank (CIB), the largest relative weight in the market, fell 3.04% to EGP 73, after 807,700 shares were exchanged at EGP 59.7 million.

Market capitalisation declined by EGP 3.35 billion, closing at EGP 655.07 billion.