Egypt Stocks fall as Ramadan weighs on Arab Selloffs

Stocks incurred losses worth 2.5 billion Egyptian pounds (US$327.6 million) on Arab investors’ selloff Tuesday, the sixth day of the Muslim holy month of Ramadan.

During Ramadan, the trading hours starts at 10:00 a.m. (8:00 GMT) and closes at 1:30 p.m. (11:30 GMT).

The market capitalisation has registered 487.589 billion pounds during the closing session of Tuesday.

Indices

The benchmark index, EGX30 slipped by 0.52 percent to 8444.93 points. EGX20 also plunged by 1.18 percent to 8515.07 points.

In addition, the mid- and small-cap index EGX70 sagged by 0.61 percent to 447.51 points.

The price index, EGX100 fell by 0.54 percent to 945.3 points.

Turnovers too Humble

On Tuesday, the sixth day of Ramadan, which usually causes a slowdown in trading activity, the bourse’s trading volume has recorded 71.118 million securities, with turnovers closed at 360.702 million pounds, exchanged through 10.658 thousand transactions.

Also during the closing session, 166 listed securities have been traded in; 97 declined, 31 advanced; while 36 kept their previous levels.

Investors’ Activities

Arab investors remained net sellers Tuesday seizing 10.34% of the total market, with a net equity of EGP 33.026 million, excluding the deals.

On the contrary, local and the non-Arab foreign investors were net buyers acquiring 67.07% and 22.59% respectively of the total markets, with a net equity of EGP 18.729 million and EGP 14.297 million, respectively, excluding the deals.