EGX 30 Opens 0.49% Lower On Local, Arab Selling Pressures

During Wednesday opening session, the Egyptian Exchange (EGX) has posted early losses of  EGP 1.5 billion as the capital market has amounted to EGP 383.783 million, according to data compiled by Amwal Al Ghad at 11:14 a.m. Cairo time (09:14 GMT).

The EGX indices opened in red.

The main index, EGX30 slumped by 0.49% to hit 5540.26 p.  EGX20 fell by 0.70% to reach 6379.47 p.

Meanwhile, the mid- and small-cap index, the EGX70 edged down 0.56% to 512.83 pts.  Price index EGX100 dropped by 0.55% to 848.05 p.

Traded volume reached 13.350 million securities worth EGP 43.327 million, exchanged 3.074  thousand transactions.

This was after trading in 99 listed securities; 61 declined 11 advanced while 27 keeping their previous levels.

EGX’s early fall was driven by local and Arab investors’ selling pressures.

Egyptians and Arabs were net sellers 79.97% and 10.51% respectively, of the total markets, with a net equity of EGP 1.898 million and EGP 1.978 million excluding the deals.

On the other hand, the non-Arab Foreigners were net buyers seizing 9.52% of the total markets, with a net equity of EGP 3.876 million excluding the deals.