Egyptian stocks suffer weekly losses on foreign sell-off
Egyptian stocks fell in the week amid foreign investors’ sell-off at the end beginning of the week trading.
After falling three times in the past five sessions, the country’s main, mid- and small-cap, and broader indices suffered big weekly losses, with the EGX 30 and the EGX 70 tumbling 1.52 percent, 1.2 percent, 3.14 percent, and 2.18 percent respectively, in week.
The country’s stock market recorded weekly losses worth 8.5 billion Egyptian pounds ($475.7 million), closing at 889.975 billion pounds during the closing session of Thursday, down from 898.512 billion pounds at the end of a week earlier.
During the week, the trading volume hit around 1.082 million securities, compared to 1.025 million. For the traded value, it recorded around 6.7 billion pounds against 3.9 billion pounds a week earlier.