Egypt Stocks Mixed on Arab Broad Selloff

Stocks closed with mixed notes, encountering loses of 701 million Egyptian pounds (US$92 million) as Arab investors’ selloff continued Wednesday, the seventh 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 486.888 billion pounds during the closing session of Wednesday.

Indices

The benchmark index, EGX30 rose by 0.14 percent to 8456.82 points. EGX20 also grew by 0.51 percent to 8558.25 points.

Meanwhile, the mid- and small-cap index EGX70 dropped by 0.40 percent to 445.71 points.

The price index, EGX100 plummeted by 0.19 percent to 943.55 points.

Turnovers remain low

On Wednesday, the seventh day of Ramadan, which usually witnesses a slowdown in trading activity, the bourse’s trading volume has recorded 88.529 million securities, with turnovers closed at 395.093 million pounds, exchanged through 12.178 thousand transactions.

Also during the closing session, 173 listed securities have been traded in; 59 declined, 64 advanced; while 47 kept their previous levels.

Investors’ Activities

Arab investors remained net sellers Wednesday controlling 18.32% of the total market, with a net equity of EGP 89.831 million, excluding the deals.

On the contrary, local and the non-Arab foreign investors were net buyers capturing 66.02% and 15.66% respectively of the total markets, with a net equity of EGP 39.355 million and EGP 50.475 million, respectively, excluding the deals.