Market Commentary



The local market headed south today with EGX30 declining 1.43% to close at 9,687.36pts, and ‎EGX70 dropping 1.47% to close at 2,217.31pts.

Today’s turnover recorded EGP 724mn distributed over 501mn shares. Local investors stepped in as net buyers with EGP 39.21mn, while Arabs and Foreign investors stepped out as net sellers with EGP 28.62mn and EGP 10.59mn respectively. ‎‎ Retail accounted for 84.72% of total turnover while institutions trades accounted for ‎‎the remaining 15.28%.‎

Today’s top gainers’ list was led Odin Development (ODID.CA) surging 8.89% to close at EGP 3.92. Emerald Real Estate Investment (EMRI.CA) followed suit rising 5.10% to close at EGP 1.73. Egyptian Iron & Steel (IRON.CA) came in 3rd place adding 4.93% to close at EGP 7.23.

On the other hand, top losers’ list was Memphis Pharmaceuticals (MPCI.CA) falling 11.72% to close at EGP 15.89. Arab Dairy Products Co. Arab Dairy - Panda (ADPC.CA) followed suit dropping 7.33% to close at EGP 2.78. Lecico Egypt Estate Co (LCSW.CA) came in 3rd place dipping 6.15% to close at EGP 9.77.



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