Egypt’s stocks begin week trade with US$166mn losses

Egypt’s stock market edged lower Sunday with losses worth 1.3 billion Egyptian pounds (US$ 166 million) on foreign selling pressures.

The market capitalisation has recorded 424.700 billion pounds during the closing session of Sunday.

Indices

Egypt’s benchmark index, EGX30 dropped 0.93 percent to 6749.11 points.

EGX50 EWI index went down 0.10 percent to 1173.39 points.

EGX20 declined 0.81 percent to 6852.86 points.

In addition, the mid- and small-cap index EGX70 decreased percent 0.02 to 371.57 points. The price index, EGX100 sagged 0.01 percent 169.52 points.

Turnovers high

On Sunday, the bourse’s trading volume hit 320.013 million securities, with turnovers closed at 417.642 million pounds, exchanged through 20,220 thousand transactions.

Also during the closing session, 167 listed securities have been traded in; 69 declined, 60 advanced; while 35 kept their previous levels.

Investors’ Activities

Arab and foreign investors were net sellers on Sunday getting 4.39 percent and 2.17 percent respectively of the total markets, with a net equity of 13.954 million pounds and 7.845 million pounds, respectively excluding the deals.

On the contrary, local investors were net buyers capturing 93.45 percent of the total market, with a net equity of 21.800 million pounds, excluding the deals.