Stock market in Egypt: shares drop, losses reach $236mn

Egyptian stock market dropped by 0.89 percent on Tuesday, incurring losses estimated at 2.1 billion Egyptian pounds (US$236.5 million).

The market caplitalisation recorded 416.933 billion pounds during the closing session of Tuesday.

Indices:

Egypt’s main index, EGX30 dropped by 0.89 percent to 8199.65 points.

The EGX50 EWI index went down by 0.08 percent to 1414.24 points.

EGX20 sagged by 1.21 percent to 8424.44 points.

In addition, the mid- and small-cap index EGX70 slid by 0.49 percent to 360.89 points. The price index, EGX100 decreased by 0.50 percent to 799.52 points.

Turnovers low

On Tuesday, the bourse’s trading volume has hit 535.252 million securities, with turnovers closed at 939.536 million pounds, exchanged through 25,736 thousand transactions.

Also during the closing session, 166 listed securities have been traded in; 75 declined, 53 advanced; while 34 kept their previous levels.

Investors’ Activities

Egyptian investors were net buyers capturing 76.89 percent of the total market, with a net equity of 43.520 million pounds, excluding the deals.

On the contrary, Arab and foreign investors were net sellers on Tuesday getting 8.42 percent and 14.7 percent respectively of the total markets, with a net equity of 33.778 million pounds and 9.742 million pounds, respectively, excluding the deals.