Egypt’s Benchmark Ends Below 4780 Pts, EGX70 Dives 5% As Uprising Looms
Egypt’s stock market has incurred losses of EGP 8 billion on Monday for the investors are on full alert to the calls for the June 30th protests that seek to topple the country’s president Mohamed Morsi.
Accordingly, the Egyptian Exchange’s indices ended on deep red notes by Monday afternoon. The indices hit 4-month low.
Egypt’s benchmark index EGX30 pushed down by 2.85% to close at 4775.92 p; while the EGX20, it sagged by 3.45% to end at 5302.98 p.
Meanwhile, the mid- and small-cap index, the EGX70 dived by 5.09% to conclude at 371.25 p. The price index EGX100 also sank by 3.65% to finish at 652.15 p.
The capital market has closed at EGP 325.998 billion on Monday.
Traded Volumes & Trades
Through the closing session of Monday, the trading volume reached 105.204 million securities. For the traded value, it reached EGP 337.949 million, exchanged through 19.554 thousand transactions.
Also during the closing session of Monday, 169 listed securities have been traded in; 141 declined, 10 advanced; while 18 keeping their previous levels.
Investors’ Activity
Egyptians and the Arabs’ selling pressures have driven EGX’s closing losses as they were net sellers seizing 61.13% and 12.77% respectively, of the total markets, with a net equity of EGP 11.372 million and 21.370 million excluding the deals.
Meanwhile, the non-Arab foreigners were net buyers seizing 26.11% of the total markets, with a net equity of EGP 32.743 million, excluding the deals.
June 30th Protest
Dr. Mohamed ElBaradei, Chairman of Al Dostour Party (Constitution Party), and a Leader in the National Salvation Front (NSF), has asked on Sunday the crowds of Egyptians to sign the petition of “Tamarod” or “Rebel”, in Arabic, campaign so as to topple the first elected civil President, Mohamed Morsi.
On his “Twitter” account, El Baradei described the current regime of the Muslim Brotherhood as fruitless and autocratic that “kills the spirit of Egypt’s revolution”, an attempt to deteriorate the revolution and its targets. So I call on, ElBaradei said on “Twitter”, every Egyptian person to sign the petition of “Tamarod” to get back our revolution.
“Our strength is in our peaceful protest, number and unity”, said ElBaradei.
It is worth mentioning that a group of peaceful Egyptian youth launched a campaign entitled “Tamarod” or “Rebel” last April in order to overthrow Morsi, who came to the office in 2012. Those youth, who launched the campaign, also called for massive demonstrations in 30th June 2013 across Egypt.
