ICEC

Egypt: Stocks Tumble on Sunday, Lose EGP2bn on Local Sell-offs

Egypt’s stocks ended the first trading day of this week lower with losses worth around 2 billion Egyptian pounds (US$279.4 million) driven by local investors’ sell-offs. In return, the country’s main stock index, EGX30 slumped below 9720 points on Sunday.

In addition, the Egyptian Exchange’s indices were wavering on red notes during the closing session of Sunday.

Indices

Egypt’s benchmark index EGX30 ended 0.11 per cent lower to 9718.57 pts; while EGX20 finished 0.08 per cent down to 11527.23 pts.

Meanwhile, the mid- and small-cap index, the EGX70 tumbled by 0.63 per cent to finish at 627.91 pts. The price index EGX100 also fell by 0.37 per cent to conclude at 1148.27 pts.  
Furthermore, the market capitalization recorded EGP 525.210 billion on Sunday.

Turnovers below EGP One billion
Through the closing session of Sunday, the trading volume has reached 129.502 million securities, with turnovers worth EGP 745.719 million, exchanged through 23.673 transactions.               
Also during the closing session, 175 listed securities have been traded in; 100 declined, 46 advanced; while 25 kept their previous levels.

Investors’ Activities

Local investors were net sellers on Sunday seizing 76.57% of the total market, with a net equity of EGP 131.792 million, excluding the deals.

On the other hand, the non-Arab foreign and Arab investors were net buyers capturing 16.6% and 6.83% respectively of the total markets, with a net equity of EGP 125.497 million and EGP 6.294 million, respectively, excluding the deals.

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