EGX 30 Opens 1.61% Lower; Monday

During Monday opening session, the Egyptian Exchange (EGX) has posted early losses of EGP 2.7 billion as the capital market has amounted to EGP 340.374 billion, according to data compiled by Amwal Al Ghad at 10:59 a.m. Cairo time (08:59 GMT).

The EGX indices opened in red during opening session.

The main index, EGX30 fell by 2.70% to 4815.78 p. EGX20 dipped by 1.74% to 5524.34 p.

Meanwhile, the mid- and small-cap index, the EGX70 edged down by 0.42% to 432.76 p.  Price index EGX100 dropped by 1.06% to 719.04 p.

This was after trading in 85 listed securities; 53 declined, 4 advanced; while 28 keeping their previous levels.

EGX’s early losses were driven by local selling pressures as Egyptians were net sellers seizing 98.01% of the total markets, with a net equity of EGP 2.540 million excluding the deals.

Meanwhile,  non-Arab foreigners and Arabs’ buying deals as they were net buyers seizing 1.61% and 0.38% respectively, of the total markets, with a net equity of EGP 64.050  million and EGP 2.476 million excluding the deals.