Egypt Stocks Open New Week with EGP13 billion Losses, EGX30 Dives 4.1%

Egypt’s indices open a new week massively lower with early losses amounting to 13 billion Egyptian pounds driven by foreign investors’ selling pressures. Accordingly, the country’s main stock index, EGX30 dived at early trade on Sunday below 8820 points.

Indices

The Benchmark EGX30 dived by 4.13% to 8816.81 p. In addition, EGX20 sank by 4.65% to 10042.34 p.

The mid- and small-cap index, the EGX70 pushed down by 3.15% to 593.76 p.  Price index EGX100 tumbled by 3.08% to 1097.51 p.

Furthermore, market capitalization reached EGP 494.853 billion, according to data compiled by Amwal Al Ghad English at 11:18 a.m. Cairo time (09:18 GMT).

Trading Volumes & Values

The trading volume has reached 100.187 million securities worth EGP 250.848 million, exchanged through 9190 transactions during Sunday opening.

Also during the opening session, 152 listed securities have been traded in; 136 fell, 1 advanced; while 15 keeping their previous levels.

Investors’ Activities

Arab and non-Arab foreign investors were net sellers at early trade seizing 5.95% and 10.16% respectively of the total markets, with a net equity of EGP 10.870 million and EGP 21.353 million, excluding the deals.

On the other hand, local investors were net buyers capturing 83.88% of the total market, with a net equity of EGP 32.224 million, excluding the deals.