Egypt Stocks dive 2.6% on Foreign selloffs

Egypt’s stock market tumbled Wednesday with losses worth 6,4 billion Egyptian pounds (US$817,3 million) driven by non-Arab foreign investors’ selloff. Accordingly, the benchmark index, EGX30, sank 2.60 percent to 7550.98 points.

The market capitalization has reached 472,874 billion pounds during the closing session of Wednesday.

Indices

EGX20 moved lower 1.99 percent to 7665.72 points.

In addition, the mid- and small-cap index EGX70 fell 1.55 percent to 412.55 points. The price index, EGX100 plummeted 1.69 percent to 873.61 points.

Turnovers turn humble

On Wednesday, the bourse’s trading volume has hit 164,614 million securities, with turnovers closed at 472,236 million pounds, exchanged through 20,493 thousand transactions.

Also during the closing session, 161 listed securities have been traded in; 99 declined, 28 advanced; while 33 kept their previous levels.

Investors’ Activities

The non-Arab investors remained net sellers Wednesday seizing 24.83% of the total market, with a net equity of EGP 19,726 million, excluding the deals.

On the contrary, the Egyptian and Arab investors were net buyers capturing 65.63% and 9.55% respectively of the total markets, with a net equity of EGP 938,268 thousand and EGP 18,788 million, respectively, excluding the deals.