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local selling pushes EGX to lose EGP43.86B of market cap.

The benchmark EGX30 dropped 4.15 percent, or 637.81 points, to end at 14,724.44 points.

Wed, Mar. 15, 2023

The Egyptian Exchange (EGX) ended Wednesday in the red zone, losing around EGP 43.86 billion of the market capitalization, amid Egyptian selling.
The benchmark EGX30 dropped 4.15 percent, or 637.81 points, to end at 14,724.44 points.
The equally weighted index EGX 50 declined 6.72 percent, or 178.97 points, to end at 2,486.14 points.
The small and mid-cap index EGX 70 decreased 8.22 percent, or 229.74 points, to close at 2,564.33 points, and the broader index EGX 100 dropped 7.64 percent, or 315.4 points, at 3,811.88 points.
Market capitalization lost around EGP 43.86 billion, recording EGP 956.86 billion, compared to EGP 1 trillion in Tuesday’s session.
The trading volume reached 663.32 million shares, traded through 74,590 transactions, with a turnover of EGP 1.9 billion.
Egyptian investors were net sellers at EGP 138.33 million, while Arab and foreign investors were net buyers at EGP 95.17 million, and EGP 43.16 million, respectively.
Egyptian and Arab individuals were net sellers at EGP 182.81 million, and EGP 12.62 million, respectively, while foreign individuals were net buyers at EGP 27,925.
Egyptian, Arab and foreign organizations bought at EGP 44.47 million, EGP 107.78 million, and EGP 43.14 million, respectively.
Cairo for Investment and Real Estate Development, Minapharm Pharmaceuticals, and Eastern Company were top gainers of the session at 10.25 percent, 4.17 percent and 2.38 percent, respectively.
Meanwhile,Saudi Egyptian Investment & Finance, Orascom Investment Holding, and Delta for Printing & Packaging were top losers of the session by 19.36 percent, 18.66 percent, and 18.56 percent, respectively.