Egypt: Stocks Closed Wednesday Lower with EGP2.7bn Losses

Egypt’s stocks finished trading on Wednesday lower continuing its downturn performance, incurring losses worth 2.7 billion Egyptian pounds on local and Arab investors’ sell-offs. In return, the country’s main stock index, EGX30 dropped below 9590 points.

However, the Egyptian Exchange’s indices were wavering in red notes during the closing session of Wednesday.

Indices

Egypt’s benchmark index EGX30 ended 0.13 per cent lower to 9587.35 pts; while EGX20 finished 0.36 per cent down to 11429.74 pts.     
In addition, the mid- and small-cap index, the EGX70 dived by 2.39 per cent to finish at 624.14 pts. The price index EGX100 pushed down by 1.43 per cent to conclude at 1138.54 pts.  
Furthermore, the market capitalization recorded EGP 521.128 billion on Wednesday.

Turnovers Cross EGP One billion
Through the closing session of Wednesday, the trading volume has reached 189.410 million securities, with turnovers worth EGP 1.187 billion, exchanged through 32.535 transactions.               
Also during the closing session, 185 listed securities have been traded in; 138 declined, 24 advanced; while 21 kept their previous levels.

Investors’ Activities

Local and Arab investors were net sellers on Wednesday seizing 74.88% and 7.7% respectively of the total markets, with a net equity of EGP 93.881 million and EGP 8.133 million, respectively, excluding the deals.

On the other hand, the non-Arab foreign investors were net buyers acquiring 17.42% of the total market, with a net equity of EGP 102.014 million, excluding the deals.