The shares of Orascom Investment Holding topped the Egyptian Stock Exchange trading during the trading session today, with a volume of 17 million shares, at a value of 5.5 million pounds, and the share fell by 2% to reach the level of 32 piasters, this came after the statements of Engineer Naguib Sawiris, Chairman of the Board of Directors of the company, Yesterday, in which investors advised the Stock Exchange not to buy this week.
Since the beginning of the crisis of the spread of the Corona virus, at the end of last month, on February 27, Orascom Investment Holding fell more than 40%, and achieved its lowest price of 28 piasters, and did not exceed its highest price during that period 33 piasters.
Naguib Sawiris advised investors in the stock exchange, during his intervention yesterday in the Cairo program today, saying, “Do not buy shares now because we still have not reached the bottom line and I expect that the values of companies will fall next week by 10%, saying” The bottom has not been accepted and Maslenloch because the Trump package did not affect and will not happen. And unless he calls for the resumption of work, nothing will happen, “noting that his investment in gold as a store of value has reduced the repercussions of the Corona economic crisis on him as an investor, despite its falling prices, but he will rise again.”
The Egyptian Stock Exchange started trading today, Monday, with a collective retreat of all indicators, and the market capital lost 6.4 billion pounds after 20 minutes of the start of the trading session.
And the index “EGX30” decreased by 2.44% to reach the level of 9521 points, the index “EGX50” decreased by 1.19% to reach the level of 1323 points, and the index “EGX30 weights” decreased by 2.07% to reach the level of 10925 points, And the EGX30 index of the overall return decreased by 2.46% to reach the level of 3553 points.
The index of medium and small companies, “EGX 70 equals weights”, decreased by 0.17% to 976 points, and the index “EGX 100” fell 0.71% to the level of 1030 points.