As Turmoil Mounts, Egypt Stocks Lose EGP2.3 bln at Midday
As turmoil escalates in Egypt, the stock market has incurred losses of EGP 2.3 billion during the midday session of Wednesday. Accordingly, the benchmark has fell below 5405 pts.
The Egyptian Exchange’s indices were trading in red notes on Wednesday noon.
Benchmark EGX30 inched down by 0.94% to 5400.72 p; while EGX20 fell by 1.38% to 6270.7 p.
On the other hand, the mid- and small-cap index, the EGX70 pushed down by 1.77% to 428.45 p. Price index EGX100 dropped 1.35% to 737.13 p.
The capital market has reached EGP 360.432 billion during the midday session of Wednesday, according to data compiled by Amwal Al Ghad English at 12:29 p.m. Cairo time (10:29 GMT).
Trading Volumes & Values
The trading volume has recorded 81.050 million securities worth EGP 235.127 million, exchanged through 13.457 thousand transactions during Wednesday midday.
Investors’ Activities
Egyptian and the non-Arab foreigners’ selling pressures have driven EGX’s midday losses as they were net sellers seizing 73.34% and 20.6% respectively, of the total markets, with a net equity of EGP 1.355 million and EGP 1.928 million, excluding the deals.
Meanwhile, Arab investors remained net buyers seizing 6.06% of the total markets, with a net equity of EGP 3.284 million excluding the deals.
Bombers Target Egypt security HQ
A bomb exploded at a police station in a province north of Cairo early on Wednesday, killing one person and wounding 17 others, Health Ministry and security sources told Reuters.
Unknown assailants threw the bomb from a passing car in Mansoura, the capital of Dakhalia province, two security sources said. A Health Ministry statement, issued shortly after the explosion, said 12 people were injured.
The bombing occurred after a day of clashes between opponents and Islamist supporters of Egypt’s deposed president, Mohamed Morsi, killed nine people in Cairo.
