Cairo bourse slump on Wednesday amid Ramadan thin trade

Egyptian stock market tumbled on Wednesday amid thin trade day during the holy month of Ramadan.

Main index EGX30 edged down 1.30 percent, to 7156.49 points.

During Ramadan, the trading sessions start at 10 a.m. Cairo Local Time (8:00 GMT) and end at 1:30 p.m. (11:30 GMT), reducing trading hours by one hour.

Other indices; EGX50 EWI index lost 1.83 percent, to 1269.95 points; while EGX20 decreased 1.28 percent, to 7229.86 points.

Mid- and small-cap index EGX70 inched lower 1.16 percent, to 346.28 points. Price index, EGX100 plummeted 1.11 percent, to 741.27 points.

Market Caps

Market capitalisation posted incurred losses worth 3.3 billion Egyptian pounds ($371.8 million), to record 389.150 billion pounds during the closing session of Wednesday.

Turnovers

The bourse’s trading volume reached 126.118 million securities, with turnovers, closing at 567.020 million pounds, exchanged through 13,648 transactions.

Also during the closing session, 174 listed securities have been traded in, 107 declined, 20 advanced; while 44 kept their previous levels.

Investors’ Activities

Local and Arab investors remained net sellers seizing 82.7 and 6.3 percent respectively of the total markets, with a net equity of 17.519 million pounds and 5.177 million pounds, respectively, excluding the deals.

On the contrary, non-Arab foreign investors were net buyers capturing 11 percent of the total market, with a net equity of 22.696 million pounds, excluding the deals.