EGX 30 Ends Below 5550 Pts On Arab Selling Pressures

The Egyptian Exchange (EGX) has incurred losses for the second time this week as it ended Monday’s sessions posting losses of EGP 1.78 billion driven by Arab selling pressures. The capital market has reached to EGP 376.595 billion during Monday’s closing.

The EGX indices ended in red.

Egypt’s benchmark index EGX 30 ended Monday’s session on a red note as it edged down by 0.57% to close at 5548.21 p; while EGX20 tumbled by 0.36% to end at 6438.47 p.

Meanwhile, the mid- and small-cap index, the EGX70 went down by 0.58% to conclude at 471.29 pts.  Price index EGX100 fell by 0.49% to finish at 798.33 p.

During Monday’s closing, the trading volume hit 70.144 million securities, lower than Sunday’s  73.391 million securities, representing a decrease 3250 securities. For the traded value, it reached EGP 262.506 million, exchanged 16.658 thousand transactions.

This was after trading in 166 listed securities; 92 declined, 41 advanced; while 33 keeping their previous levels.

Arabs’ selling pressures have driven to EGX’s closing losses as they were net sellers seizing 6.29% of the total markets, with a net equity of EGP 11.678 million excluding the deals.

Meanwhile, Egyptians and the non-Arab foreigners were net buyers seizing 71.17% and 22.54% respectively, of the total markets, with a net equity of EGP 6.749 million and EGP 4.928 million excluding the deals.

For the leading EGX-listed firms’ stocks, Orascom Telecom Media And Technology Holding SAE (OTMT.CA) remained with no change at EGP 0.62. Egyptian Financial Group-Hermes Holding (HRHO.CA)’s stock also steadies at EGP 11.00. On the other hand, Orascom Telecom Holding SAE (ORTE.CA)’s stock pushed down by 1.17% to EGP 4.22. Orascom Construction Industries – OCI (OCIC.CA)’s stock also went down by 0.54% to EGP 263.44.