Cairo stocks move lower on foreign selloff Tuesday

Egypt’s stock market slumped Tuesday to incur losses worth 1.37 billion Egyptian pounds (US$175 million) driven by selling pressures of non-Arab foreign investors.

The market capitalisation has recorded 448.053 billion pounds during the closing session of Tuesday.

Indices

Egypt’s benchmark index, EGX30 tumbled 1.05 percent to 7331.53 points.

The newly-launched EGX50 EWI index inched down 0.86 percent to 1212.21 points.

EGX20 also fell 0.89 percent to 6940.72 points.

In addition, the mid- and small-cap index EGX70 sagged 1.13 percent to 389.43 points. The price index, EGX100 moved lower 0.69 percent to 841.33 points.

Turnovers doubled

On Tuesday, the bourse’s trading volume has hit 182.251 million securities, with turnovers closed at 2.113 billion pounds, exchanged through 15,331 thousand transactions.

Also during the closing session, 161 listed securities have been traded in; 98 declined, 20 advanced; while 36 kept their previous levels.

Investors’ Activities

The non-Arab foreign investors were net sellers Tuesday seizing 5.21 percent of the total market, with a net equity of 18.316 million pounds, excluding the deals.

On the contrary, local and Arab investors were net buyers capturing 93.04 and 1.76 percents respectively of the total markets, with a net equity of 5.251 million and 13.065 million pounds, respectively, excluding the deals.