Cairo bourse tumbles 0.98% on local, Arab sell-off

Egyptian stock market closed in red on Tuesday amid local and Arab investors’ sell-off during the ninth day of the Muslim holy month of Ramadan.

Main index as EGX30 edged down 0.98 percent, to 7570.05 points.

During Ramadan, the trading sessions start at 10 a.m. Cairo Local Time (8:00 GMT) and end at 1:30 p.m. (11:30 GMT), reducing trading hours by one hour.

Other indices; EGX50 EWI index lost 1.76 percent, to 1362.28 points; while EGX20 fell 1.90 percent, to 7727.43 points.

Mid- and small-cap index EGX70 tumbled 1.18 percent, to 366.16 points. Price index, EGX100 dropped 1.11 percent, to 775.67 points.

Market Caps

Market capitalisation incurred mild losses worth 3.8 billion Egyptian pounds ($428 million), to record 401.862 billion pounds during the closing session of Tuesday.

Turnovers

The bourse’s trading volume reached 137.042 million securities, with turnovers, closing at 526.837 million pounds, exchanged through 14,896 transactions.

Also during the closing session, 158 listed securities have been traded in, 110 declined, 14 advanced; while 31 kept their previous levels.

Investors’ Activities

Local and Arab investors were net sellers controlling 74.71 and 7.87 percent respectively of the total markets, with a net equity of 43.411 million pounds and 2.393 million pounds, respectively, excluding the deals.

On the contrary, non-Arab foreign investors were net buyers capturing 17.42 percent of the total market, with a net equity of 45.805 million pounds, excluding the deals.