Egypt’s stock market starts week in red with $572mn losses

Egypt’s stock market declined on Sunday with losses estimated at  4.6 billion Egyptian pounds (US$572.7 million) on Egyptian and Non-Arab sell off .

The market capitalisation has recorded 448.487 billion pounds during the closing session of Sunday

Indices

Egypt’s benchmark index, EGX30 dropped by 1.26 percent to 7413.01 points.

The newly-launched EGX50 EWI index went down by 2.29 percent to 1248.63 points.

EGX20 declined by 2.35 percent to 7148.98 points.

In addition, the mid- and small-cap index EGX70 decreased by percent 1.91 to 390.2 points. The price index, EGX100 sagged by 1.07 percent 843.25 points.

Turnovers down

On Sunday, the bourse’s trading volume has hit 286.822 million securities, with turnovers closed at EGP 512.954 million, exchanged through 17,779 thousand transactions.

Also during the closing session, 169 listed securities have been traded in; 124 declined, 11 advanced; while 32 kept their previous levels.

Investors’ Activities

Local and foreign investors were net  sellers on Sunday seizing 91.56% and 5.45% respectively of the total markets, with a net equity of EGP 3.725 million and EGP 3.869 million, respectively, excluding the deals.

On the contrary, the Arab investors were net buyers getting 3% of the total market, with a net equity of EGP 7.594 million, excluding the deals.