Egypt Stocks tumble on Tuesday, yet Turnovers jump

Egypt’s stock market shares dropped on Tuesday incurring losses worth 1.3 billion Egyptian pounds (US$170.3 million) driven by local investors’ sell-offs.

The country’s main stock index, EGX30 slightly retreated below 9710 points.

The rest of the Egyptian Exchange’s indices were also wavering on red negative notes during the closing session of Tuesday.

Indices:

The benchmark index, EGX30 dipped by 0.04 percent to close at 9709.5 points. EGX20 fell by 0.22 percent to 10731.69 points.

In addition, the mid- and small-cap index EGX70 tumbled by 0.52% to 563.45 points. The price index, EGX100 dropped by 0.34% to 1132.29 points.

Turnovers jump
On Tuesday, the trading volume has reached 153.393 million securities, with turnovers closed at EGP 2.201 billion, exchanged through 24.308 thousand transactions.

Also during the closing session, 181 listed securities have been traded in; 101 declined, 44 advanced; while 33 kept their previous levels.

Furthermore, the market capitalization recorded EGP 516.728 billion on Tuesday.

Investors’ Activities

Local investors were net sellers on Tuesday seizing 61.49% of the total market, with a net equity of EGP 1.428 million, excluding the deals.

On the other hand, the non-Arab foreign and Arab investors were net buyers capturing 36.68% and 1.82% respectively of the total markets, with a net equity of EGP 1.395 million and EGP 32.866 thousand, respectively, excluding the deals.