Shares in Egypt slide 1.83% on local, non-Arab foreign selloff

Egypt’s stock market further slide Monday weighed by local and non-Arab selling pressures during a weak trading volume in the holy month of Ramadan.

Main index EGX30 pushed down 1.83 percent, to 7203.64 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 sank 2.30 percent, to 1295.82 points; while EGX20 sagged 2.27 percent, to 7287.79 points.

Mid- and small-cap index EGX70 dropped 1.36 percent, to 352.84 points. Price index, EGX100 plummeted 1.35 percent, to 750.66 points.

Market Caps

Market capitalisation incurred heavy losses worth 7.6 billion Egyptian pounds ($855.8 million), to record 389.585 billion pounds during the closing session of Monday.

Turnovers

The bourse’s trading volume reached 150.173 million securities, with turnovers, closing at 543.225 million pounds, exchanged through 16,769 transactions.

Also during the closing session, 176 listed securities have been traded in, 127 declined, 14 advanced; while 31 kept their previous levels.

Investors’ Activities

Local and non-Arab foreign investors were net sellers seizing 80.43 and 11.64 percent respectively of the total markets, with a net equity of 23.062 million pounds and 1.837 million pounds, respectively, excluding the deals.

On the contrary, Arab investors were net buyers capturing 7.93 percent of the total market, with a net equity of 24.900 million pounds, excluding the deals.