Egyptian Stocks start this Week Lower, Lose EGP2.3bn

Egypt’s stocks dropped on Sunday incurring losses worth 2.3 billion Egyptian pounds (US$328.6 million) driven by foreign investors’ selling pressures. The country’s main stock index, EGX30 closed lower below 8910 points.

The rest of the Egyptian Exchange’s indices were also wavering in weak negative notes during the closing session of Sunday.

Indices:

The main stock index, EGX30 edged down by 0.41 per cent to 8909.75 points.

Meanwhile, the mid- and small-cap index, EGX70 and price index, EGX100 both inched lower, down 0.16 per cent and 0.08 percent, to close at 571.09 and 1110.74 points, respectively.

Humble Turnovers
Through the closing session of Sunday, the trading volume has reached 72.341 million securities, with turnovers worth EGP 215.482 million, exchanged through 13.081 thousand transactions.                   
Also during the closing session, 168 listed securities have been traded in; 93 declined, 43 advanced; while 28 kept their previous levels.
Furthermore, the market capitalization recorded EGP 496.355 billion on Sunday.

Investors’ Activities

Arab and non-Arab foreign investors were net sellers on Sunday seizing 6.08% and 7.09% respectively of the total markets, with a net equity of EGP 6.197 million and EGP 10.843 million, respectively, excluding the deals.

On the other hand, local investors were net buyers capturing 86.83% of the total market, with a net equity of EGP 17.041 million, excluding the deals.