Egypt Stocks Lose EGP5 bln Rattled by Mounting Unrest Concerns
Driven by the escalated turmoil in Egypt alongside the country’s army chief’s calls for staging rallies against violence and terrorism, the stock market has ended Wednesday much lower with losses totaled at EGP 5.4 billion.
Consequently, the benchmark retreated to close below 5360 pts.
The Egyptian Exchange’s indices were wavering in dark red notes during the closing session of Wednesday.
Egypt’s benchmark index EGX30 inched down by 1.69% to close at 5359.57 p; while the EGX20, it sank by 2.46% to end 6202.35 p.
Meanwhile, the mid- and small-cap index, the EGX70 dived by 2.99% to conclude 423.11 p. The price index EGX100 pushed down by 2.26% to finish at 730.27 p.
The capital market has closed at EGP 357.347 billion on Wednesday.
Local, Arab Buyers
Egyptians and the non-Arab foreigners’ selling pressures amid the escalated unrest have driven EGX’s losses for Wednesday. Egyptians and the non-Arab foreigners were net sellers seizing 78.88% and 15.3% respectively, of the total markets, with a net equity of EGP 4.832 million and EGP 1.178 million, excluding the deals.
Meanwhile, Arabs remained net buyers seizing 5.83% of the total markets, with a net equity of EGP 6.0101 million excluding the deals.
Traded Volumes & Trades
Through the closing session of Wednesday, the trading volume has reached 140.419 million securities. For the traded value, it hit EGP 419.116 million, exchanged through 24.529 thousand transactions.
Also during the closing session, 170 listed securities have been traded in; 134 declined, 17 advanced; while 19 keeping their previous levels.
Bombers Target Egypt security HQ
A bomb exploded at a police station in a province north of Cairo early on Wednesday, killing one person and wounding 17 others, Health Ministry and security sources told Reuters.
Unknown assailants threw the bomb from a passing car in Mansoura, the capital of Dakhalia province, two security sources said. A Health Ministry statement, issued shortly after the explosion, said 12 people were injured.
The bombing occurred after a day of clashes between opponents and Islamist supporters of Egypt’s deposed president, Mohamed Morsi, killed nine people in Cairo.
Face ‘Terrorism’ Rally
General Abdel Fattah El-Sisi, Egypt’s defense minister, has called on Wednesday for nationwide rallies next Friday, July 26th to mandate the army to confront “terrorism and violence.”
El-Sisi made his remarks during his speech on Wednesday afternoon at graduation ceremony for the air defense and navy in the coastal city of Alexandria.
