On Investors’ Unrest Fears, Egypt Stocks Lose EGP2 bln at Midday

Amid investors’ fears from a potential violence spurred by the Egyptian army chief’s call for a mass rally against terrorism, stock market has incurred losses of EGP 2.1 billion during midday session of Thursday. Benchmark went further below 5310 pts.

The Egyptian Exchange’s indices were trading in red notes on Thursday noon.

Benchmark EGX30 inched down by 0.96% to 5308.3 p; while EGX20 fell by 1% to 6140.22 p.

On the other hand, the mid- and small-cap index, the EGX70 dropped by 0.92% to 419.21 p.  Price index EGX100 went down 0.84% to 724.1 p.

The capital market has reached EGP 355.242 billion during the midday session of Thursday, according to data compiled by Amwal Al Ghad English at 12:18 p.m. Cairo time (10:18 GMT).

Trading Volumes & Values

The trading volume has recorded 32.908 million securities worth EGP 89.936 million, exchanged through 6.777 thousand transactions during Thursday midday.

Investors’ Activities

Egyptian and the non-Arab foreigners’ selling pressures have driven EGX’s midday losses as they remained net sellers seizing 87.02% and 8.14% respectively, of the total markets, with a net equity of EGP 4.431 million and EGP 1.891 million, excluding the deals.

Meanwhile, Arab investors remained net buyers seizing 4.84% of the total markets, with a net equity of EGP 6.323 million excluding the deals.