Egypt stocks edge lower on foreign profit-taking

Egypt’s stocks were lower on Wednesday as profit-taking transactions continued. Main index, EGX30 fell 0.48 percent, to 8347.38 points.

Other indices; EGX50 EWI index also dropped 0.27 percent, to 1407.64 points; EGX20 lost 0.27 percent, to 8404.16 points.

Mid- and small-cap index EGX70 sagged 0.48 percent, to 365.85 points. Price index, EGX100 picked up 0.26 percent, to 812.21 points.

Market Cap

Market capitalisation incurred losses worth 1.1 billion Egyptian pounds ($124 million), to record 416.079 billion pounds during the closing session of Wednesday.

Turnovers lower

The bourse’s trading volume reached 223.636 million securities, with turnovers, closing at 694.068 pounds, exchanged through 21.541 transactions.

Also during the closing session, 167 listed securities have been traded in, 70 declined, 54 advanced; while 41 kept their previous levels.

Investors’ Activities

Non-Arab foreign investors were net sellers capturing 20.9 percent of the total market, with a net equity of 45.165 million pounds, excluding the deals.

On the contrary, local and Arab investors were net buyers controlling 74.08 and 5.02 percent respectively of the total markets, with a net equity of 41.943 million pounds and 3.221 million pounds, respectively, excluding the deals.