Cairo – Muabsher: The Egyptian Exchange (EGX) indices retreated collectively on Monday as the benchmark index EGX30 went down 1.26% or 105.37 points to close at 8,246.9 points on selling pressures by institutions.
The small and medium –caps index EGX70 edged down 0.86% to 361.86 points, while the broader index EGX100 eased 0.37% to 809.03 points.
Similarly the equal weighted index EGX50 slipped 1.02% to 1,395.14 points.
The EGX30’s largest constituent and Egypt’s biggest private bank, CIB, dragged the EGX30 down as it plunged 3.0%.
EGX30, kicked off Monday’s session in the green territory as it jumped 0.6% twenty minutes into the session. The early buying appetite did not survive for long as the Egyptian stocks surrendered to a broad-based selling wave.
The local and foreign investors ended as net sellers with EGP 13 million and EGP 26.7 million respectively, while Arab investors ended as net buyers with EGP 39.7 million.
Institutions ended as net sellers with EGP 40 million, while retail investors came as net buyers.
The market capitalization shed EGP 2.8 billion to close at EGP 415.5 billion, down from EGP 418.3 billion in the previous session.
Egyptian Iron and Steel, Domty, and Eastern Company were the sole EGX30 constituents to end the session in the positive territory as each climbed 4.6%, 4.3%, and 2.9%, respectively. Porto Group, Amer Group, and Orascom Construction lead today’s selling wave as each dove 7.1%, 6.7%, and 4.3%, respectively.
