Egyptian Stock Exchange News
The Egyptian Stock Exchange [EGX] diversified during the trading session on Wednesday, 15-5-2019. The most important of these was the end of the Egyptian Stock Exchange on Wednesday, a collective decline of all indices under selling pressures from Arab dealers. The market capitalization declined by 10.7 billion pounds to close at 755.729 billion pounds .
Bourse loses 10.7 billion pounds
The Egyptian Stock Exchange ended the trading session on Wednesday with a collective decline of all indicators under selling pressures from Arab dealers. The market capitalization declined by 10.7 billion pounds to close at 755.729 billion pounds.
The volume of trading on the shares amounted to 68.5 million securities worth 379 million pounds, through the implementation of 13.2 thousand transactions for the number of 165 companies, the Egyptian transactions accounted for 61.78% of the total transactions, while foreigners accounted for 33.44% and Arabs at 4.78% during the trading session today, Institutions accounted for 56.3% of the transactions on the stock exchange. The rest of the transactions were for individuals at 43.69%.
The net transactions of Arab individuals and Egyptian and Arab institutions for sale amounted to EGP 2.7 million, EGP 7 million and EGP 7.9 million respectively. The net transactions of Egyptian, foreign and foreign companies were EGP 6.3 million, EGP 2.2 million and EGP 3.1 million, respectively.
The EGX30 index fell 1.53% to close at 13809 points. The EGX 50 index fell 2.33% to close at 2076 points. The EGX30 index of weights fell 1.73% to close at 17079 points.
The index of EGX70 shed 0.89% to close at 615 points. The EGX 100 index shed 0.99% to close at 1563 points. The Nile index fell 0.27% to close at 457 points.
Shares of 13 listed companies closed at the close of trading, 108 companies were decliners, and 44 companies were unchanged.
Sailing shorts
Mohamed Farid, Chairman of the Egyptian Stock Exchange, issued a decision on the selection criteria for securities allowed to carry out securities transactions for the purpose of selling, in order to meet all the necessary requirements for the speed of activation of the new mechanism to enhance liquidity and trading in the market.
The number of securities listed on the Stock Exchange and eligible for securities securities for the purpose of selling currently amounts to 29 securities in addition to ETFs.
The stock market was based on 7 criteria for selecting the new mechanism's eligible securities after examining the best international standards and practices in this regard, including the free market capitalization of trading shares, the number of trading days, the daily average of brokering companies, the daily average of customers and the number of shares issued by the company.
In this context, the Egyptian Financial Supervisory Authority [EFSA] has adopted the criteria approved by the Board of Directors of the Egyptian Stock Exchange on the securities eligible for dealing with the mechanism of borrowing for sale, within the framework of the permanent and continuous coordination between the Stock Exchange and the Authority to issue rules and decisions that will develop and develop the Egyptian capital market.
For his part, Mohamed Farid, Chairman of the Egyptian Stock Exchange, said that the issuance of the criteria for selecting the securities eligible for dealing with the mechanism of borrowing for sale came within the framework of the management of the stock exchange to accelerate the pace of activation of the new mechanism, which will contribute to stimulate trading and increase the rate of movement of securities.
Farid said in a press release on Wednesday that the task now rests with the brokerage firm's court to meet the technical requirements required to carry out securities borrowing operations for sale and then apply for a license to practice the activity.
The competent committee of the Stock Exchange shall review the list of securities eligible for the borrowing mechanism for sale in accordance with the previous standards issued by the Stock Exchange and approved by the Financial Supervisory Authority every six months.
Epico
Egyptian International Pharmaceutical Industries [EIPICO] reported financial results for the first quarter of this year, recording a net profit of 218.31 million pounds from the beginning of January to the end of March, compared with 183.97 million pounds in the same period last year, an increase of 18.7%. annual.
The company's net sales for the three months rose to 915.26 million pounds at the end of March, compared to 732.08 million pounds during the same period last year, the company said in a statement on Wednesday.
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