Egypt Stocks fall despite Launch of New Index

Egypt’s stock market edged lower Sunday with losses worth 9.9 million Egyptian pounds (US$ 1.2 million) on Arab selling pressures.

Egyptian Exchange has issued new equal-weighted index which includes the market’s top 50 companies in terms of activity and liquidity.

The market capitalisation has reached 496.495 billion pounds during the closing session of Sunday.

Indices

Egypt’s benchmark index, EGX30 dropped by 0.4 percent to 8158.31 points.

The newly-launched EGX50 EWI index went down by 0.27 percent to 1453.67 points.

EGX20 solely increased by 0.03 percent to 8235.04 points.

In addition, the mid- and small-cap index EGX70 shrunk by 0.24 percent to 458 points. The price index, EGX100 declined by 0.56 percent to 938.84 points.

Turnovers up

On Sunday, the bourse’s trading volume has hit 191.721 million securities, with turnovers closed at EGP 982.729 million, exchanged through 21.010 thousand transactions.

Also during the closing session, 159 listed securities have been traded in; 72 declined, 49 advanced; while 35 kept their previous levels.

Investors’ Activities

Egyptian and  foreign investors were net buyers on Sunday capturing 92.39% and 3.99% respectively of the total markets, with a net equity of EGP 9.246 million and EGP 6.078 million, respectively, excluding the deals.

On the contrary, Arab investors were net sellers getting 3.63% of the total market, with a net equity of EGP 15.324 million, excluding the deals.