Egypt’s equities finished in the red on Thursday, posting a sharp weekly declines.
Benchmark EGX 30 EGX 30 tumbled 1.27 percent to close the last day of trading this week at 13,847 points, triggering a minor double top formed by the highs since end-October and pointing down to around 13,500 points. For the week, the main gauge booked a loss of 5.3 percent.
The mid- and small-cap index, EGX 70 fell 87.2 percent in a week closing at 763 points during Thursday’s session. Price index, EGX 100 also made a weekly decline of 35.2 percent closing at 732.1 points.
Market capital incurred weekly declines of 18.4 billion Egyptian pounds ($1.04 billion) as it closed on Thursday at 771.031 billion pounds, compared with 789 billion pounds the previous week, the Egyptian bourse said in its weekly report.
During the week, the trading volume hit around 543.1 million securities, compared 976.1 million a week earlier. For the traded value, it reached around 7.6 billion pounds against 5.7 billion pounds a week earlier.