A new government led by Ibrahim Mehleb has been formed, Egyptian shares closed lower on Sunday with losses of 191 million pounds amid local selling pressures. In return, the country’s main stock index – EGX30 ended lower below 8100 points.
Additionally, the Egyptian Exchange (EGX) indices were wavering in red notes on Sunday afternoon, except for the mid- and small-cap index, EGX70 which solely rose.
Egypt’s benchmark index EGX30 ended 0.64 per cent lower to 8075.59 pts; while EGX20 finished 0.87 per cent down to 9680.6 pts.
Meanwhile, the mid- and small-cap index, the EGX70 went up by 0.15 per cent to close at 652.21 pts. The price index EGX100 fell by 0.10 per cent to conclude at 1117.97 pts.
Furthermore, the market capitalization recorded EGP 491.656 billion on Sunday.
Turnovers below One Billion Pounds
Through the closing session of Sunday, the trading volume has reached 326.878 million securities, with turnovers worth EGP 900.177 million, exchanged through 39.610 thousand transactions.
Also during the closing session, 183 listed securities have been traded in; 111 declined, 56 advanced; while 16 keeping their previous levels.
Local investors were net sellers on Sunday capturing 90.03% of the total market, with a net equity of EGP 35.623 million, excluding the deals.
On the other hand, Foreign and Arab investors were net buyers seizing 2.64% 7.33% respectively of the total markets, with a net equity of EGP 15.311 million and 20.311 million respectively, excluding the deals.
At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price decline by 2.29 percent to EGP 12.40.
Market bellwether Commercial International Bank S.A.E. (COMI.CA) dipped by 0.03 percent to EGP 36.60.
In the real estate sector, Palm Hills Development Company (PHDC.CA) pushed down by 2.92 percent to trade at EGP 3.33, Talaat Moustafa Group Holding (TMGH.CA) tumbled by 2.23 percent to trade at EGP 7.88, and Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) sank by 2.99 percent to close at EGP 24.69.