Wednesday , August 17 2022

Bourse loses LE 30.6 billion after Orange Telecom was deposed at the end of the week


Egyptian stock exchanges continued to decline at the close of trading on Thursday, ending the trading week, affected by sales of Arab and foreign investment institutions and funds.

The market capitalization of listed companies lost around 30.6 billion EGP to close at 763.6 billion EGP, with a turnover of 1.3 billion EGP, which included trades in the main dealerships markets and transfer transactions.

Egyptian Stock Exchange analyst Hosny El Sayed said the withdrawal of Orange Egypt Telecom, which has a market value of about 28.5 billion pounds from the stock market, has contributed to stock market losses.

EGX 30 declined 0.14% to 13675.37 points, EGX 70 small and medium-sized shares declined by 0.13% to 687.44 points, the EGX 100 fell by 0.21 %, reaching 1723.91 points.

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