Driven by Dispersing Camps, Egypt’s Main Index Falls below 5550 pts – Closing

Egypt’s stocks ended in dark red on Wednesday encountering losses of EGP 5.7 billion driven by security forces’ actions to disperse Cairo protest camps who were supporting the deposed president Mohamed Morsi.

The main gauge further retreated 1.7%, the biggest drop since July 8.

The Egyptian forces have started early Wednesday their operations to disperse the protest camps supporting the deposed president Mohamed Morsi.

Egypt’s benchmark index EGX30 inched down by 1.70% to close at 5549.19 p; while the EGX20 sagged by 1.78% to end at 6432.91 p. 

Meanwhile, the mid- and small-cap index, the EGX70 sank by 2.71% to conclude at 429.02 p. The price index EGX100 pushed down by 2.44% to finish at 737.83 p.

The capital market has closed at EGP 360.553 billion on Wednesday.
It is worth mentioning that the EGX management has decided to halt its trading session of Thursday following an earlier announcement made by the country’s central bank. The Egyptian bourse shall resume trading sessions next Sunday August 18th.

Traded Volumes & Trades
Through the closing session of Wednesday, the trading volume has reached 128.800 million securities. For the traded value, it hit EGP 333.613 million, exchanged through 19.394 thousand transactions.  

Also during the closing session, 166 listed securities have been traded in; 137 declined, 6 advanced; while 23 keeping their previous levels.

Investors’ Activity
Egyptians were net sellers triggering EGX’s closing losses as they seized 79.74% of the total market, with a net equity of EGP 25.332 million, excluding the deals.

Meanwhile, the non-Arab foreigners and Arabs were net buyers seizing 14.44% and 5.81% respectively, of the total market, with net equities of EGP 17.568 million and EGP 7.764 million, excluding the deals.