News varied Egyptian Stock Exchange During today’s trading session, Monday 7-8-2024, the most prominent of which was the Egyptian Stock Exchange ending today’s trading session, Monday, with a decline in the indices, with the exception of Small Business Index The medium-sized “EGX 70” was under pressure from foreign traders’ sales, while Egyptians and Arabs tended to buy, amid trading of 4.4 billion pounds, and the market capitalization lost 6 billion pounds to close at 1.917 trillion pounds.
6 stocks suspended
I announced Egyptian Stock Exchange ManagementTrading on 6 stocks was suspended for 10 minutes for exceeding the 5% mark, up or down, during today’s trading session, Monday. They are: Sinai Cement, Arab Energy, iFinance for Financial and Digital Investments, Egyptian Electric Cables, Sinai Cement Company-2 Subscription Rights, and Golden Tex for Wool.
The stock exchange loses 6 billion pounds
The Egyptian Stock Exchange ended trading on Monday with a decline in the indices, except for the small and medium-sized companies index “EGX 70”, due to selling pressures from foreign traders, while Egyptian and Arab transactions tended to buy, amid trading amounting to 4.4 billion pounds, and the market capitalization lost 6 billion pounds to close at 1.917 trillion pounds.
The volume of trading in stocks reached 917 million securities, worth 4.4 billion pounds, through the implementation of 116.5 thousand transactions for 210 companies. Egyptians’ transactions recorded 85.68% of the total transactions, while foreigners accounted for 8.13%, Arabs for 6.19%, institutions accounted for 25.96% of transactions on the stock exchange, and the remaining transactions were for individuals at a rate of 74.03%.
Net transactions of foreign individuals and institutions tended to sell at a value of EGP 5.7 million and EGP 347.9 million, respectively, while transactions of Egyptian and Arab individuals and institutions tended to buy at a value of EGP 275.6 million, EGP 4.5 million, EGP 69.1 million and EGP 4.4 million, respectively.
The EGX 30 index fell by 0.67% to close at 28,411 points, the EGX 30 Capped index fell by 0.54% to close at 34,802 points, and the EGX 30 Total Return index fell by 0.67% to close at 12,276 points.
The EGX 70 Equal Weight Index for Small and Medium Enterprises rose by 0.09% to close at 6,298 points, the EGX 100 Equal Weight Index fell by 0.14% to close at 9,127 points, the Sharia Index fell by 0.82% to close at 2,752 points, the Tamiz Index rose by 0.25% to close at 6,452 points, and the Treasury Bonds Index increased by 1.75% to close at 1,711 points.
Shares of 57 companies listed on the stock exchange rose at the end of trading, shares of 91 companies fell, and the levels of 62 companies did not change.
Instant deal
The Stock Exchange announced the execution of a deal on the shares of Fawry Banking Technology and Electronic Payments Company, which issued 12.3 million shares, with a total value of 68.3 million pounds, within the framework of the reward and incentive system for employees.
treasury stock
Pioneers Properties for Urban Development, Jadwa for Industrial Development, Al-Naeem Holding for Investments, Palm Hills for Development, and A Capital Holding announced the purchase of treasury shares during yesterday’s session, Sunday. The first bought 550,000 shares, the second 695,000 shares, the third 11,500 shares, the fourth 3.997 million shares, and the fifth 400,000 shares.
Internal transactions
The transactions of insiders, major shareholders and groups associated with them varied during yesterday’s trading session, Sunday, as the board of directors of Tanmia Real Estate Investment, Industrial and Engineering Projects, North Cairo Mills and Bakeries, and International Investment and Development bought 2,000 shares, 500,000 shares, 3 shares, and 114,000 shares, respectively. A group associated with Misr Hotels and Egyptian Tourist Resorts bought 370 shares and 42.4 thousand shares, respectively.
Meanwhile, a group affiliated with Abu Qir Fertilizers and Chemical Industries and the Egyptian Real Estate Group sold 668,000 shares and 1.72 million shares, respectively, and the management of Fawry Banking Technology and Electronic Payments Company sold 100,000 shares.
The Egyptian Company for Modern Education Systems announced that shareholder Saif Mahmoud Hassan Gaballah Hassan purchased 5.6 million shares at a price of EGP 0.265, with a total value of EGP 1.5 million, increasing his shareholding from 9.454% to 10.01%. The deal was executed through Royal Securities Brokerage Company.
Mobco
Misr Fertilizers Production Company (MOPCO) announced the signing of a non-binding memorandum of understanding (MoU) regarding the principles of spending on purchasing green ammonia between Yara Norway and Damietta Green Ammonia Company in Damietta, in which the Egyptian Petrochemicals Holding Company (ECHEM) contributed, which owns 31.47% of MOPCO’s capital, with an initial investment cost of $890 million with a production capacity of up to 150,000 tons of green ammonia annually, through generating renewable energy with a total value of up to 480 megawatts.
Egypt city
Madinet Misr Housing and Development Company announced the signing of a memorandum of cooperation with Abu Al-Wafa Contracting and Real Estate Investment Company to develop the Sarai project with an area of 1,330 acres at an investment cost exceeding one billion pounds.