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EGX30 ends Wednesday at lowest level since May 2020

EGX30 ends Wednesday at lowest level since May 2020
The market cap value plunged by EGP 14 billion

Cairo – Mubasher: The Egyptian Exchange (EGX) closed Wednesday’s trading session in the red territory, pressured by foreign selloffs.

The main EGX30 fell by 1.85% to end at 10,115 points, its lowest level since May 2020 as the heavyweight Commercial International Bank-Egypt (CIB) edged down by 0.04% to EGP 53.99.

Meanwhile, the small- and mid-cap EGX70 EWI slid by 4.64% to 1,833 points, while the EGX100 EWI declined by 4.23% to 2,733 points.

Likewise, the EGX50 retreated by 4.2% to 1,911 points.

The market cap value plunged by EGP 14 billion to close at EGP 630.466 billion.

Local and Arab investors were net buyers with EGP 13.01 million and EGP 54.63 million, respectively, while foreign investors were net sellers with EGP 67.64 million.

The market’s turnover recorded EGP 975.25 million after 503.9 million shares were exchanged through around 34,500 transactions.