News varied Egyptian Stock Exchange During today’s trading session, Wednesday 3/6/2024, the most notable of which was the Egyptian Stock Exchange ending Wednesday’s session trading, with a collective decline in indicators, due to sales pressure from Egyptian traders, while Arab and foreign transactions tended to buy, amid trades amounting to 9.7 billion pounds, and a market capitalization loss of 48 billion. pounds to close at 2.031 trillion pounds.
Trading of 36 shares suspended
The management of the Egyptian Stock Exchange announced the suspension of trading on 36 stocks for a period of 10 minutes if they exceeded the 5% rate of rise or fall during Wednesday’s trading session. They are: Delta Sugar, Credit Agricole Egypt Bank, GB Corporation, Sixth of October Development and Investment – SODIC, and Sidi Kerir. Petrochemicals – Sidpec, Misr Fertilizer Production – MOPCO, Abu Qir Fertilizers and Chemical Industries, MB Engineering, Oriental Weavers Carpets, Abu Dhabi Islamic Bank – Egypt, Alexandria Container and Cargo Handling, Contact Financial Holding, Alexandria Mineral Oils – AMOC, and Egyptian Chemical Industries – KEMA, Misr Aluminum, ASEC Mining-ESCOM, Wadi Kom Ombo Land Reclamation, Faisal Islamic Bank of Egypt in Egyptian Pounds, Integrated Engineering Works Group, and Egyptian Export Development Bank.
Trading in shares of: Qatar National Bank Al Ahli, Al Baraka Bank of Egypt, Suez Canal Bank, Digitize for Investment and Technology, Misr Oils and Soaps, Eastern National Food Security, Orascom Investment Holding, Cairo National Investment and Securities, Alexandria Mills and Bakeries, and GB Corporation were also suspended. Arabian Cement, Misr City for Housing and Development, Y-Finance for Financial and Digital Investments, Palm Hills for Development, Al-Qanat for Shipping Agencies, and United for Housing and Development.
The stock market loses 48 billion pounds
The Egyptian Stock Exchange ended trading today, Wednesday, with a collective decline in indices, due to sales pressure from Egyptian traders, while Arab and foreign transactions tended to buy, amid trades amounting to 9.7 billion pounds, and the market capitalization lost 48 billion pounds to close at the level of 2.031 trillion pounds.
The volume of trading in stocks reached 1.3 billion securities, worth 9.7 billion pounds, through the implementation of 230.4 thousand transactions for 208 companies, and Egyptians’ transactions recorded 89.81% of the total transactions, while foreigners acquired 4.13%, Arabs acquired 6.06%, and institutions acquired 29.76%. Of the transactions on the stock exchange, the rest of the transactions were for individuals, at a rate of 70.23%.
The net transactions of Egyptian institutions tended to sell at a value of 425.1 million pounds, while the net transactions of Egyptian, Arab and foreign individuals and Arab and foreign institutions tended to buy at a value of 134.1 million pounds, 27 million pounds, 6.9 million pounds, 159.5 million pounds, and 97.6 million pounds, respectively.
The EGX 30 Index declined by 3.02% to close at 29,743 points, the EGX 30 Weighted Index declined by 3.49% to close at 37,137 points, and the EGX 30 Total Return Index decreased by 3.05% to close at 12,670. a point.
The “EGX 70 equal weights” index also declined by 3.4% to close at 7202 points, the “EGX 100 equal weights” index fell by 3.39% to close at 10177 points, and the Tamayoz index jumped by 0.89% to close at 7056 points. point, and the Treasury bond index decreased by 0.15% to close at 1468 points.
The shares of 43 companies listed on the stock exchange rose at the end of trading, the shares of 128 companies decreased, and the levels of 37 companies did not change.
Internal transactions
The dealings of insiders, major shareholders, and groups associated with them varied during the trading session yesterday, Tuesday, as a major shareholder in Rubex International Plastics and Acrylic Manufacturing Company, and Prime Holding for Financial Investments, sold 14.6 thousand shares, 1.1 million shares, respectively, and the management of the Commercial International Bank – Egypt (CIB) sold… IP) sold 8,500 shares, and a group linked to the Arab Rocks Company for Plastic Industries sold 1.1 million shares.
While the Board of Directors of Mena Tourism and Real Estate Investment and Palm Hills Development bought 10,000 shares and 2 million shares, respectively, a major shareholder in the medical packaging companies, Prime Holding for Financial Investments, Marsa Marsam Alam for Tourism Development, and Nozha International Hospital also bought 1.3 million. shares, 1.3 million shares, 37.9 thousand shares, and 28 thousand shares, respectively.
Al-Oula Company for Investment and Real Estate Development announced the purchase of shareholder Zainab Adel Awad Al-Metwally, 338,000 shares at a price of 2,974 pounds, with a total value of one million pounds, raising the shareholding percentage from 4.72% to 7.18%. The deal was implemented through Vantage Securities Brokerage Company.
Business results
A number of companies listed on the Egyptian Stock Exchange announced business results for the fiscal year ending in 2023. Misr Beni Suef Cement Company achieved sales amounting to 2 billion pounds during the period ending in December 2023, compared to 1.8 billion pounds during the year 2022, and the net profit reached 369.1 million pounds compared to With losses of 145.9 million pounds.
Zahraa El Maadi Investment and Development Company achieved sales amounting to 732.6 million pounds during the year 2023, with an annual growth rate of 41%, and net profit reached 324.2 million pounds, an annual increase of 24.2%.