EGX 30 Falls 0.46% On Local Opening Selling Pressures

During Wednesday opening session, the Egyptian Exchange (EGX) has posted losses of EGP 1 billion as the capital market has amounted to EGP 349.069 billion, according to data compiled by Amwal Al Ghad at 11:12 a.m. Cairo time (09: 12 GMT).

The EGX indices opened in red.

The main index, EGX30 fell by 0.46% to 5024.88 p. EGX20 dipped by 0.58% to 5753.22 p.

Meanwhile, the mid- and small-cap index, the EGX70 pushed down by 0.94% to 438.54 pts.  Price index EGX100 dropped by 0.75% to 737.29 p.

This was after trading in 92 listed securities; 54 declined, 4 advanced; while 34 keeping their previous levels.

EGX’s losses were driven by local selling pressures.

Egyptians were net sellers seizing 80.49% of the total markets, with a net equity of EGP 3.895 million excluding the deals.

On the other hand, Arabs and the non-Arab Foreigners were net buyers seizing 7.49% and 12.02% respectively, of the total markets, with a net equity of EGP 2.125 million and EGP 1.769 million excluding the deals.

Traded volume reached 14.213 million securities worth EGP 18.875 million, exchanged 1.570 thousand transactions.