CIB drives EGX30 down; EGX70 up 1.75% Wednesday

CIB drives EGX30 down; EGX70 up 1.75% Wednesday
EGX closes Wednesday on mixed note amid Arab selling

Cairo – Mubasher: The Egyptian Exchange (EGX) closed Wednesday’s session on a mixed note amid Egyptian and foreign selling.

The benchmark EGX30 index inched down 0.24% or 32.33 points to the level of 13,442.55 points, pressured by the declining blue chips led by the heavy-weight Commercial International Bank – Egypt (CIB), which tumbled 0.99% to EGP 81.2.

Meanwhile, the EGX70 index rose 1.75% to 738.2 points, while the EGX100 index grew 1.22% to 1,638.42 points.

Similarly, the equal-weighted EGX50 index added 0.2% to 2,151 points.

Trading volume amounted to 361.19 million shares exchanged at a turnover of EGP 953.4 million through 29,890 transactions.

Market capitalisation gained EGP 1.5 billion and closed at EGP 713.9 billion.

Blue chips including Alexandria Mineral Oils Co (AMOC), Sidi Kerir Petrochemicals (Sidpec), and Egyptian Iron and Steel (HADISOLB) levelled up 6.48%, 5.9%, and 5.47%, respectively.

On the other hand, Amer Group, Citadel Capital, and Emaar Misr fell 2.78%, 2.08%, and 1.67%, respectively.

Arab investors were net buyers with EGP 31.2 million, while foreign and Egyptian investors were net sellers with EGP 4.6 million and EGP 26.6 million, respectively. 

Source: Mubasher