Egypt Stocks edge lower on local, non-Arab sell-offs

Egypt stocks tumbled on Monday encountering losses worth 2.03 billion (US$266.1 million) driven by local and non-Arab foreign investors’ selloffs. Consequently, the country’s main stock index, EGX30 dived below 9530 points.

The rest of the Egyptian Exchange’s indexes were also wavering in red notes during the closing session of Monday.

Indices:

The benchmark index, EGX30 inched down by 2.03 percent to close at 9529.01 points. EGX20 sank by 2.19 percent to 10387.56 points.

In addition, the mid- and small-cap index EGX70 dropped by 1.60 percent to 549.36 points. The price index, EGX100 fell by 1.52 percent to 1108.24 points.

Turnovers climb
On Monday, the trading volume has reached 97.904 million securities, with turnovers closed at EGP 1.844 billion, exchanged through 18.228 thousand transactions.

Also during the closing session, 173 listed securities have been traded in; 127 declined, 17 advanced; while 24 kept their previous levels.

Furthermore, the market capitalization recorded EGP 523.215 billion on Monday.

Investors’ Activities

Local and non-Arab foreign investors were net sellers on Monday seizing 91.48% and 5.26% respectively of the total markets, with a net equity of EGP 10.903 million and EGP 12.168 million, respectively, excluding the deals.

On the other hand, Arab investors were net buyers capturing 3.26% of the total market, with a net equity of EGP 23.072 million, excluding the deals.