Cairo – Mubasher: Egyptian Exchange (EGX) indices ended Wednesday’s session in the red amid strong selling by local and Arab investors.
The benchmark EGX30 index slid 1.3% or 94.43 points to 7,156.49 points, its lowest level since 15 March or since 69 sessions.
A number of leading stocks ended on a low note including the EGX-heavy weight Commercial International Bank – Egypt (CIB), which retreated 1.08% to EGP 41.05 after a turnover of EGP 49.3 million.
Qalaa Holdings dropped 6.25% to EGP 1.05, its lowest level since the company’s listing. Turnover on the stock reached EGP 23.5 million.
The EGX70 and EGX100 indices shed 1.16% and 1.11% to 346.28 points and 741.27 points, respectively, while the EGX50 lost 1.83% to reach 1,269.95 points.
Turnover on the EGX reached EGP 365.9 million on Wednesday, after 127.7 million shares were exchanged. A total of 107 shares ended the session in the red, while 20 gained and 44 remained stable.
Beltone Holding, Golden Coast El Sokhna, Alexandria National Company for Finance Investment, El Nasr for Manufacturing Agricultural Crops, and El Wadi for Touristic Investment were the top fallers, sliding between 9.4% and 10%.
On the other hand, National Cement, Arab Ceramic Co., Naeem Holding, Global Telecom, Cleopatra Hospital led gainers, rising between 1.5% and 7%.
Market capitalisation lost EGP 3.3 billion ($373.3 million) to close at EGP 389.15 billion, compared to Tuesday’s closed at EGP 392.47 billion.
Egyptian and Arab investors were net sellers with EGP 17.5 million and EGP 5.2 million, respectively, whereas foreign buying netted EGP 22.7 million.
Retail investors focused on buying on Wednesday, netting EGP 46.9 million, whereas institutional selling, with the exception of foreign investors, netted EGP 46.4 million.
