Egypt stocks incur $345mn on foreign selling off

Egyptian stocks concluded Monday with losses estimated at 2.7 billion Egyptian pounds (US$344.5 million) foreign selling pressures.

The market capitalisation recorded 427.752 billion pounds in the closing session of Monday.

Indices

Egypt’s benchmark index, EGX30  declined 0.87 percent to 6777.81 points.

The newly-launched EGX50 EWI index jumped 0.01 percent to 1155.87 points.

EGX20 dropped by 0.46 percent to 6725.88 points.

In addition, the mid- and small-cap index EGX70 boosted by 0.11 percent to 368.82 points. The price index, EGX100 fell by 0.08 percent to 776.56 points.

Turnovers low

On Monday, the bourse’s trading volume has hit 279.653 million securities, with turnovers closed at 707.710 million pounds, exchanged through 23,253 thousand transactions.

Also during the closing session, 171 listed securities have been traded in; 83 declined, 49 advanced; while 31 kept their previous levels.

Investors’ Activities

Arab and non-Arab investors were net sellers on Monday getting 8.35% and 6.71% respectively of the total markets, with a net equity of EGP 44.251 million and EGP 18.240 million, respectively, excluding the deals.

On the contrary, the local investors were net buyers seizing 84.95% of the total market, with a net equity of EGP 62.491 million, excluding the deals.