EGX loses EGP 56 bln in market cap

Ahram Online , Tuesday 6 Aug 2024

Egypt’s Stock Exchange (EGX) continued to decline at the end of Monday’s session, with the mean index settling at 27,840.6 points, recording a market cap loss of EGP 56 billion.

EGX

 

This performance came in tandem with the escalation in the Middle East over the Israeli war in Gaza and the fall of global markets on Monday.

The decline resulted from the net sales of Egyptian individuals, reaching EGP 180.2 million during the session.
Egypt’s main index EGX 30 decreased by 2.33 percent to close at 28,506.6 points, while the new sharia-compliant index EGX 33 decreased by 2.53 percent to settle at 2,636.9 points.

The EGX introduced the sharia-compliant index EGX 33 in June with 33 companies under the supervision of Al-Azhar.
The EGX 70 equal weight index (EWI) also fell by five percent to close at 6,168 points, while the border EGX 100 EWI fell by 4.31 percent to close at 8,898.7.

The share trading volume hit 1.21 billion, with a trading value of EGP 4.14 billion, through 137.6 thousand transactions.
The foreigners bought stocks with a net value of EGP 78.2 million, while Egyptians and Arabs sold with a net value of EGP 47 million and EGP 31.2 million, respectively.

EGX announced in July the launch of its stock exchange dialogue platform on its online portal.

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