Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

EGX Drops amid Fears of COVID Variant 


Sun 28 Nov 2021 | 11:19 PM
Taarek Refaat

The Egyptian stock exchange (EGX) indices concluded the trading session on a collective decline, under pressure from the circulating news about the new coronavirus variant “Omicron” and raises new fears of a rise in cases and deaths.

The "EGX30" index of equal weights declined by 1.34% to close at the level of 11277 points, the index of small and medium-sized enterprises (SMEs) EGX 70 index decreased by 1.71% to close at the level of 2058 points, while the all embracing EGX 100 decreased by 1.29% to close at the level of 3020 points.

The market cap of the shares listed in the inside market fell to the level of EGP 714.275 billion, amid the tendency of foreign investors towards selling with a value of about EGP 32.5 million, while Egyptian and Arab investors tended to buy with a net purchase value of EGP 29.6 million and EGP 2.9 million, respectively.

The total trading value amounted to about EGP 774.848 million, while the trading volume amounted to about 365.767 million shares executed on 44,000 transactions, through 190 shares.

Highest share price

In terms of stock prices, the biggest winners during today's trading were the Mansoura Poultry (MPCO), which increased by 11.70% to close at EGP 1.25, followed by the Egyptian Iron and Steel Co SAE stock by 8.39% to close at EGP 2.06, and then in third place was the Egyptian Real Estate Group share, up 8.16%, to close at EGP 1.59.

In fourth place came the Cairo Housing and Development Company S.A.E. share, which increased by 7.5% to close at EGP 29.53, and finally the Arab Valves share by 7.09% to close at EGP 1.7.

Lowest share price

On the other hand, share prices were led by the decliner today, The Arab Dairy Products Co., by 11.25% to close at EGP 5.84 per share, followed by the Egypt Aluminum (EGAL) shares, which decreased by 7.89% to close at EGP 21 pounds, and the Universal For Building Materials & Chemicals by 7.10% to close at EGP 0.69 per share.

In the fourth place came Orascom Development share, which dropped by 5.86% to close at EGP 5.46, and finally, Alexandria Mineral Oils Company AMOC share, down 5.14%, to close at EGP 3.5.