Egypt Stocks plunge Monday on Local Selloff

Egypt’s stock market encountered losses on Monday worth 7.4 billion Egyptian pounds (US$969.6 million) driven by local investors’ selloffs. Accordingly, the country’s main stock index, EGX30 plunged below 8495 points.

The market capitalization has hit 496.285 billion pounds during the closing session of Monday.

Indices:

Egypt’s benchmark index, EGX30 plummeted by 1.62 percent to close at 8493.68 points. EGX20 pushed down by 2.51 percent to 8916.58 points.

In addition, the mid- and small-cap index EGX70 dived by 2.81 percent to 475.05 points. The price index, EGX100 dropped by 2.18 percent to 962.75 points.

Turnovers above One Billion Pounds
On Monday, the bourse’s trading volume has recorded 156.784 million securities, with turnovers closed at EGP 1.169 billion, exchanged through 20.523 thousand transactions.

Also during the closing session, 187 listed securities have been traded in; 146 declined, 10 advanced; while 24 kept their previous levels.

Investors’ Activities

Local investors remained net sellers on Monday seizing 90.86% of the total market, with a net equity of EGP 36.788 million, excluding the deals.

On the other hand, the non-Arab foreign and Arab investors were net buyers acquiring 6.33% and 2.81% respectively of the total markets, with a net equity of EGP 36.467 million and EGP 320.536 thousand, respectively, excluding the deals.