Egypt Stocks Offset Early Gains, Lose EGP15bn on Wednesday

Egypt’s indices closed further lower on Wednesday incurring losses worth 15.3 billion Egyptian pounds (US$2.1 billion) driven by non-Arab foreign investors’ selling pressures. The country’s main stock index, EGX30 dived below 8125 points.

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

Indices

Egypt’s benchmark index EGX30 ended 4.59 per cent lower to 8124.68 pts; while EGX20 closed 5.25 per cent down to 9066.51 pts.

In addition, the mid- and small-cap index, the EGX70 plummeted by 4.09 per cent to finish at 531.83 pts. The price index EGX100 sagged by 3.77 per cent to conclude at 1007.41 pts.

Furthermore, the market capitalization recorded EGP 464.816 billion on Wednesday.

Turnovers above EGP one billion
Through the closing session of Wednesday, the trading volume has reached 268.659 million securities, with turnovers worth EGP 1.429 billion, exchanged through 34.098 thousand transactions.                 
Also during the closing session, 199 listed securities have been traded in; 169 declined, 14 advanced; while 7 kept their previous levels.

Investors’ Activities

The non-Arab foreign investors were net sellers on Wednesday seizing 15.14% of the total market, with a net equity of EGP 30.388 million, excluding the deals.

On the other hand, local and Arab investors were net buyers capturing 81.45% and 3.42% respectively of the total markets, with a net equity of EGP 24.754 million and EGP 5.634 million, respectively, excluding the deals.