Ahead of Friday Mass Rallies, Egypt Benchmark End Week Solely Lower
Ahead of the upcoming mass rallies pro and against the Egyptian army chief’s remarks, the stock market has ended this week posting gains of EGP 140 million. The benchmark solely fell during the closing session of Thursday.
The Egyptian Exchange’s indices ended this week in mixed notes.
Egypt’s benchmark index EGX30 inched down by 0.13% to close at 5352.56 p; while the EGX20, it remained with no change at 6202.43 p.
Meanwhile, the mid- and small-cap index, the EGX70 rebounded by 0.50% to conclude 425.22 p. The price index EGX100 rose by 0.32% to finish at 732.6 p.
The capital market has closed at EGP 357.487 billion on Thursday.
Local, Arab Buyers
Arabs and the non-Arab foreigners were net sellers seizing 5.82% and 10.2% respectively, of the total markets, with a net equity of EGP 7.388 million and EGP 3.978 million, excluding the deals.
Meanwhile, Egyptians remained net sellers seizing 83.98% of the total markets, with a net equity of EGP 11.367 million excluding the deals.
Lower Traded Volumes & Trades
Through the closing session of Thursday, the trading volume has reached 89.025 million securities. For the traded value, it hit EGP 240.144 million, exchanged through 16.194 thousand transactions.
Also during the closing session, 159 listed securities have been traded in; 69 declined, 57 advanced; while 33 keeping their previous levels.
Face ‘Terrorism’ Rally
General Abdel Fattah El-Sisi, Egypt’s defense minister, has called on Wednesday for nationwide rallies next Friday, July 26th to mandate the army to confront “terrorism and violence.”
El-Sisi made his remarks during his speech on Wednesday afternoon at graduation ceremony for the air defense and navy in the coastal city of Alexandria.
Peaceful ‘Stand’ Calls
On the eve of rival protests possibly presaging a wider crackdown on the Islamists, the leader of Egypt’s Muslim Brotherhood Mohamed Badei has called for a peaceful “stand” against the “coup” that overthrew President Mohamed Morsi.
“The dignified Egyptian masses…will preserve their rights peacefully,” said Mohamed Badei in a statement on Thursday.
