Cairo bourse slumped Wednesday with $833mn losses

Egyptian stock market concluded Wednesday with losses estimated at 7.4 billion Egyptian pounds (US$ 833 million) despite Arab and foreign buying appetite.

The market capitalisation hit 401.673 billion pounds during the closing session of  Wednesday.

Indices

Egypt’s benchmark index, EGX30 sagged by 2.59 percent to 7459.84 points.

The EGX50 EWI index slumped by 2.77 percent to 1400.9 points.

EGX20 decreased by 3.84 percent to 7950.91 points.

In addition, the mid- and small-cap index EGX70 dropped by 1.40 percent to 361.13 points. The price index, EGX100 went down by 2 percent to 773.57 points.

Turnovers down

On Wednesday, the bourse’s trading volume has recorded 430.135 million securities, with turnovers closed at 1.209 billion pounds, exchanged through 35,165 thousand transactions.

Also during the closing session, 185 listed securities have been traded in; 142 declined, 16 advanced; while 21 kept their previous levels.

Investors’ Activities

Arab and foreign investors were net buyers on Wednesday getting 5.97 % and 11.29 % respectively of the total markets, with a net equity of 34.900 million pounds and 16.460 million pounds, respectively, excluding the deals.

On the contrary, local investors were net sellers capturing 82.75 % of the total market, with a net equity of 51.360 million pounds, excluding the deals.