EGX 30 Opens 0.27% Lower On Local, Arab Selling Pressures

During Thursday’s opening session, the Egyptian Exchange has incurred losses of EGP 289 million driven by local and Arab selling pressures. The capital market has amounted to EGP 382.655 billion, according to data compiled by Amwal Al Ghad at 11:00 a.m. Cairo time (09:00 GMT).

382.944

The EGX indices opened in red.

The main index, EGX30 dropped by 0.27% to 5673.79 p. EGX20 fell by 0.22% to 6600.57 p.

Meanwhile, the mid- and small-cap index, the EGX70 dipped by 0.05% to 481.56 p.  Price index EGX100 inched down by 0.17% to 809.37 p.

This was after trading in 63 listed securities; 25 declined, 12 advanced; while 26 keeping their previous levels.

During Thursday’s opening session, the trading volume has reached 4.659 million securities worth EGP 13.348 million, exchanged 704 transactions.

The EGX’s opening losses were driven by Egyptians and Arabs’ selling pressures as they were net sellers seizing 74.94% and 10.49% respectively, of the total markets, with a net equity of EGP 986.206 thousand and EGP 2.227 million excluding the deals.

Meanwhile, the non-Arab sellers were net buyers seizing 14.57% of the total markets, with a net equity of EGP  3.213 million excluding the deals.