EGX 30 Opens In Red Note, Below 5687 Pts On Local Sellers

The Egyptian Exchange has opened Tuesday’s session incurring losses of EGP 532 million driven by early local selling pressures. The capital market has amounted to EGP 384.729 billion, according to data compiled by Amwal Al Ghad at 11:10 a.m. Cairo time (09:10 GMT) during Tuesday’s opening session.

The EGX indices opened in a red note.

Benchmark EGX30 tumbled by 0.07% to 5686.53  p; while EGX20 inched down by 0.13% to 6632.08 p.

Meanwhile, the mid- and small-cap index, the EGX70 dipped by 0.13% to 487.34 p.  Price index EGX100 dropped by 0.17% to 820.63 p.

This was after trading in 85 listed securities; 45 declined, 11 advanced; while 29 keeping their previous levels.

During Tuesday’s opening session, the trading volume has reached 7.703 million securities worth EGP 27.336 million, exchanged 1.389 thousand transactions.

The EGX opening  losses were driven by local selling pressures as Egyptians were net sellers seizing 70.14% of the total markets, with a net equity of EGP 1.922 million excluding the deals.

Meanwhile, Arabs and the non-Arab foreigners’ were net buyers seizing 4.42% and 25.44% respectively, of the total markets, with a net equity of EGP 1.826 million and EGP 96.506 thousand excluding the deals.