EGX 30 Closes 1.43% Lower Despite ASEA Conference Launch

During Monday closing session, the Egyptian Exchange (EGX) has posted losses of EGP 3.6 billion as the capital market has amounted to EGP 339.428 billion.

The EGX indices closed in red.

The main index, EGX30 pushed down by 1.43% to end at 4824.56  p. EGX20 dropped by 1.51% to close at 5537.44 p.

Meanwhile, the mid- and small-cap index, the EGX70 dipped by 0.82 % to conclude at 431.03 p.  Price index EGX100 edged down by 1.21% to finish at 717.92 p.

Traded volume reached 68.196 million securities worth EGP 226.774 million, exchanged 14.716 thousand transactions.

This was after trading in 158 listed securities; 90 declined, 33 advanced; while 35 keeping their previous levels.

EGX’s losses were driven by local selling pressures as they were net sellers seizing 85.34% of the total markets, with a net equity of EGP 18.628 million excluding the deals.

Meanwhile, Arabs and non-Arab Foreigners’ buying deals as they were net buyers seizing 2.79% and 11.86% respectively, of the total market, with a net equity of EGP 6.751million and EGP 11.877 million, excluding the deals.

The 16th Annual General Meeting and Flagship Conference of the African Securities Exchanges Association (ASEA) for the year 2012 has been launched on Monday in Cairo on 2-4 December 2012 at the Four Seasons Hotel. The ASEA Annual Conference of this year is hosted by the Egyptian Exchange.

The focus of the Annual Conference of this year is on “Unleashing Africa’s Investment Potential – What Could Be Done By African Capital Markets?”

On the sidelines of African Securities Exchanges Association’s 16th conference, President Sunil Benimadhu has announced the launch of the Pan-African Index, for which FTSE was chosen to create the index. The index will include 19 exchanges. South Africa will not be included because it is a different market.