Egyptian stocks lose $1.3bn amid freezing Juhayna CEO’s assets

The Egyptian stocks have incurred losses worth EGP 10.6 billion (US$1.3 billion) Sunday amid freezing the assets of Juhayna food Industries’ CEO Safwan Thabet.

The market capitalisation has reached 474.248 billion pounds during the closing session of Sunday.

Indices

Egypt’s benchmark index, EGX30 dropped by 3.22 percent to 7625.76 points.

The newly-launched EGX50 EWI index declined by 3.34 percent to 1345.22 points.

EGX20 edged lower by 3.48 percent to 7545.5 points.

In addition, the mid- and small-cap index EGX70 sagged by 2.86 percent to 428.61 points. The price index, EGX100 shrunk by 2.21 percent to 901 points.

Investors’ Activities

Egyptian and Arab investors were net buyers on Sunday capturing 96.04% and 1.33% respectively of the total markets, with a net equity of EGP 811,810 thousand and EGP 7.822 million, respectively, excluding the deals.

On the contrary, foreign investors were net sellers getting 2.64% of the total market, with a net equity of EGP 8.634 million, excluding the deals.

Turnovers up

On Sunday, the bourse’s trading volume has hit 190.961 million securities, with turnovers closed at EGP 1.486 billion, exchanged through 18,214 thousand transactions.

Also during the closing session, 185 listed securities have been traded in; 136 declined, 11 advanced; while 28 kept their previous levels.