EGX stabilises on Wednesday as market cap sheds EGP 1 bln

Muhammad Khalid, Wednesday 5 Apr 2023

The Egyptian Exchange (EGX) ends nearly flat on Wednesday, with the market cap losing EGP 1 billion to record EGP 1.086 trillion ($35.14 billion), compared to EGP 1.087 trillion on Tuesday.

Egypt bourse. AFP
Egypt bourse. AFP


The benchmark EGX30 index gained 0.12 percent, closing the session at 17019.25 points, while the small- and mid-cap EGX70 index (EWI) inched up 0.02 percent to end at 2955.78 points.

Meanwhile, the EGX100 index slipped 0.08 percent to close at 4444.41 points, while the EGX50 index declined by 0.24 percent to stand at 2909.86 points.

Trading volume amounted to 514 million shares traded through 70,079 transactions at a turnover of EGP 1.627 billion.

Individuals accounted for 74.89 percent of total trading transactions.

Egyptians and Arabs acquired 84.13 percent and 10.3 percent of total trading transactions, respectively.

Non-Arab foreigners accounted for 5.57 percent of trading.

Arabs bought EGP 115.732 million worth of shares. Egyptians and non-Arab foreigners sold EGP 70.16 million and EGP 45.57 million shares, respectively.

EGX's market cap gained around EGP 87.9 billion during the first quarter of 2023, recording EGP 1.049 trillion, up 9.1 percent compared to the same period a year earlier, according to the EGX weekly performance report.

The turnover soared to EGP 193.2 billion from January until the end of March 2023, up from EGP 55.6 billion the year before.

Meanwhile, the benchmark EGX30 index surged 12.47 percent to close at 16,418.53 points in the first three months of the year.

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