‪Egypt Stocks end week lower over China impact

Egypt’s stock market slid Thursday incurring losses worth 718 million Egyptian pounds (US$91.7 million) over a broad local sell-off driven by the Chinese devaluation and its impact on the emerging market.

The market capitalisation has hit 484,905 billion pounds during the closing session of Thursday.

Indices

Egypt’s benchmark index, EGX30 dropped 0.41 percent to 7879.82 points.

The newly-launched EGX50 EWI index decreased 0.70 percent to 1391.73 points.

EGX20 edged down 0.89 percent to 7817.75 points.

In addition, the mid- and small-cap index EGX70 plummeted 0.45 percent to 441.22 points. The price index, EGX100 went down 0.49 percent to 921.35 points.

Turnovers up

On Thursday, the bourse’s trading volume has hit 150,939 million securities, with turnovers ended at 929,930 million pounds, exchanged through 17,106 thousand transactions.

Also during the closing session, 170 listed securities have been traded in; 86 declined, 38 advanced; while 38 kept their previous levels.

Investors’ Activities

Local investors were net sellers seizing 78.04 percent of the total market, with a net equity of 54,315 million pounds, excluding the deals.

On the contrary, the non-Arab foreign and Arab investors were net buyers capturing 19.39 percent and 2.58 percent respectively of the total markets, with a net equity of 41,316 million pounds and 12,998 million pounds, respectively, excluding the deals.