Egypt’s stock market ended harshly lower on Sunday, with losses totalling 7.7 billion Egyptian pounds as local investors extended profit-taking bout. The main stock index – EGX30 sank below 7525 points.
Meanwhile, the Egyptian Exchange (EGX) indices were wavering in dark red notes on Sunday afternoon.
Egypt’s benchmark index EGX30 closed 2.30 per cent lower to 7524.12 pts; while EGX20 finished 3.08 per cent down to 8904.42 pts.
On the contrary, the mid- and small-cap index, the EGX70 plunged by 1.04 per cent to end at 568.3 pts. The price index EGX100 inched down by 1.10 per cent to conclude at 998.28 pts.
Furthermore, the market capitalization recorded EGP 453.605 billion on Sunday.
Turnovers below one Billion Pounds
Through the closing session of Sunday, the trading volume has reached 351.308 million securities, with turnovers worth EGP 901.696 million, exchanged through 34.046 thousand transactions.
Also during the closing session, 181 listed securities have been traded in; 145 declined, 21 advanced; while 15 keeping their previous levels.
Egyptian investors were net sellers seizing 88.74% of the total market, with a net equity of EGP 71.865 million, excluding the deals.
On the other hand, Arab and the non-Arab foreign investors were net buyers capturing 5.13% and 6.13% respectively of the total markets, with a net equity of EGP 58.205 million and EGP 13.660 million respectively, excluding the deals.
At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price plunge on Sunday by 6.73 percent to EGP 11.08.
Market bellwether Commercial International Bank S.A.E. (COMI.CA) pushed down by 1.05 percent to EGP 35.90.
In the real estate sector, Palm Hills Development Company (PHDC.CA) dived by 5.63 percent to trade at EGP 3.35, Talaat Moustafa Group Holding (TMGH.CA) sank by 8.52 percent to trade at EGP 7.19, in addition the Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) tumbled by 9.05 percent to close at EGP 22.01.