Political Uncertainty Drags EGX 30 Down 1.19%; Closing

The Egyptian Exchange (EGX) has ended Tuesday’s session incurring losses of EGP 3.9 billion driven by foreign selling pressures due to the political unstable situation. The capital market has reached to EGP 381.290 billion during Tuesday’s closing.

The EGX indices ended in red.

Egypt’s benchmark index EGX 30 ended Monday on a red note as it pushed down by 1.19% to end at 5623.09 p; while EGX20 fell by 1.38% to close 6549.11 p.

Meanwhile, the mid- and small-cap index, the EGX70 inched down by 1.64% to conclude at 479.94 pts.  Price index EGX100 dropped by 1.32% to finish at 811.2 p.

During Tuesday’s closing, the trading volume hit  128.480 million securities worth EGP 438.173 million, exchanged 25.487 thousand transactions.

This was after trading in 176 listed securities; 146 declined, 12 advanced; while 18 keeping their previous levels.

Foreign selling pressures drove EGX’s closing losses as the non-Arab foreigners were net sellers seizing 18.73% of the total markets, with a net equity of EGP 15.459 million excluding the deals.

Meanwhile, Egyptians and Arabs were net buyers seizing 76.94% and 4.34% respectively, of the total markets, with a net equity of EGP 4.035 million and EGP 11.424 million excluding the deals.