Egyptian Indices Open New Week lower on early Local Sell-offs

Egypt’s stocks opened a new week lower incurring losses worth 1.4 billion Egyptian pounds driven by local investors’ selling pressures.  Consequently, the country’s main stock index, EGX30 kicked off trading on Sunday below 9245 points.

The Egyptian Exchange (EGX)’s indices were wavering on red notes during the opening session of Sunday.

Indices

The Benchmark EGX30 dropped by 0.16% to 9243.22 p. In addition, EGX20 went down by 0.13% to 10674.67 p.

The mid- and small-cap index, the EGX70 also fell by 0.73% to 641.67 p.  Price index EGX100 plummeted by 0.55% to 1148.82 p.

Furthermore, market capitalization reached EGP 523.657 billion, according to data compiled by Amwal Al Ghad English at 11:19 a.m. Cairo time (09:19 GMT).

Trading Volumes & Values

The trading volume has reached 83.119 million securities worth EGP 164.284 million, exchanged through 5918 transactions during Sunday opening.

Also during the opening session, 137 listed securities have been traded in; 83 fell, 23 advanced; while 31 keeping their previous levels.

Investors’ Activities

Local investors were net sellers at early trade seizing 83.6% of the total market, with a net equity of EGP 17.569 million, excluding the deals.

On the other hand, Arab and the non-Arab foreign investors were net buyers capturing 7.65% and 8.75% respectively of the total markets, with a net equity of EGP 6.125 million and EGP 11.443 million, excluding the deals.