Cairo’s bourse slumped Wednesday with losses of $308mn

Egypt’s stock market concluded lower on Wednesday with losses estimated at 2.737 billion Egyptian pounds (308 million) on Arab sell off.

The market capitalisation has recorded 406.302 billion pounds during the closing session of Wednesday.

Indices

Egypt’s benchmark index, EGX30 dropped by 1.09 percent to7485.06 points.

The newly-launched EGX50 EWI index went down by0.79 percent to 1412.43points.

EGX20 declined by 0.47 percent to 8051.88 points.

In addition, the mid- and small-cap index EGX70 decreased by percent 0.87 to 366.79 points. The price index, EGX100 sagged by 0.99 percent 789.51 points.

Turnovers high

On Wednesday, the bourse’s trading volume hit 306.381 million securities, with turnovers closed at EGP 1.193 billion, exchanged through 30,360 thousand transactions.

Also during the closing session, 180 listed securities have been traded in; 120 declined, 26 advanced; while 27 kept their previous levels.

Investors’ Activities

Local and foreign investors were net buyers on Wednesday  seizing 82.93 % and 8.72 % respectively of the total markets, with a net equity of EGP 23.338 million and EGP 13.841 million, respectively, excluding the deals.

On the contrary, the Arab investors were net sellers getting 8.35 % of the total market, with a net equity of EGP 13.841 million, excluding the deals.