Egypt Stocks Open this Week Lower, Lose EGP1.5bn

Egypt’s stocks opened a new week lower with losses amounting to 1.5 billion Egyptian pounds driven by early local investors’ selling pressures. Accordingly, the main stock index, EGX30 started trading on Sunday below 8420 points.

Meanwhile, the EGX indices were wavering in red notes during the opening session of Sunday.

EGX is operating with shortened trading hours during the Islamic fasting month of Ramadan.

The exchange is opened from 10:00 to 13:30 Cairo time during Ramadan.

Indices

The Benchmark EGX30 retreated by 0.45% to 8418.76 p, and EGX20 inched down by 0.40% to 10154.09 p.

In addition, the mid- and small-cap index, the EGX70 decreased by 0.15% to 605.82 p.  Price index EGX100 also tumbled by 0.21% to 1068.44 p.

Furthermore, market capitalization reached EGP 486.052 billion, according to data compiled by Amwal Al Ghad English at 11:17 a.m. Cairo time (09:17 GMT).

Trading Volumes & Values

The trading volume has recorded 23.435 million securities worth EGP 213.953 million, exchanged through 3051 transactions during Sunday opening.

Also during the opening session, 92 listed securities have been traded in; 50 fell, 16 advanced; while 24 keeping their previous levels.

Investors’ Activities

Egyptian investors were net sellers at early trade on Sunday seizing 98.24% of the total market, with a net equity of EGP 2.706 million, excluding the deals.

On the other hand, the non-Arab foreign investors and Arab investors were net buyers capturing 1.19% and 0.57% respectively of the total markets, with a net equity of EGP 2.210 million and EGP 495.728 thousand, excluding the deals.