Ahead of Presidential Vote, Egypt Shares Lose EGP2.2 billion on Sunday

Big 5

Ahead of Egypt’s presidential elections scheduled for May 26 and 27, Egypt’s stocks ended lower on Sunday incurring losses worth 2.25 billion Egyptian pounds. Yet, the main stock index, EGX30 surged at close crossing 8760 points.

Egyptians are expected to cast their ballots across the country Monday and Tuesday, fulfilling the next steps in the political roadmap announced by then-Defence Minister Abdel-Fattah El-Sisi on Morsi’s removal.

El-Sisi and leftist politician Hamdeen Sabahi are the only two contenders in the presidential race..

Egyptian expats already cast their ballots 15-19 May. Out of 318,033 votes, El-Sisi won 296,628 (94.5 percent), while Sabahi got 17,207 (5.5 percent). Invalid votes totalled 4,198.

Meanwhile, the EGX indices were wavering in mixed notes during the closing session of Sunday.


Egypt’s benchmark index EGX30 ended 0.40 per cent higher to 8762.86 pts; while EGX20 finished 0.60 per cent up to 10551.69 pts.     
In addition, the mid- and small-cap index, the EGX70 pushed down by 1.28 per cent to end at 615.67 pts. The price index EGX100 fell by 0.88 per cent to conclude at 1080.17 pts.  
Furthermore, the market capitalization recorded EGP 495.641 billion on Sunday.

Turnovers below EGP1 Billion
Through the closing session of Sunday, the trading volume has reached 265.542 million securities, with turnovers worth EGP 844.897 million, exchanged through 27.588 thousand transactions.               
Also during the closing session, 176 listed securities have been traded in; 57 declined, 95 advanced; while 24 keeping their previous levels.

Investors’ Activities

Arab and the non-Arab foreign investors were net sellers on Sunday seizing 6.04% and 3.58% respectively of the total markets, with a net equity of EGP 10.057 million and EGP 25.799 million respectively, excluding the deals.

On the other hand, Egyptian investors were net buyers capturing 90.38% of the total market, with a net equity of EGP 35.857 million, excluding the deals.