EGX 30 Opens Below 5560 Pts, OTMT Falls 1.61%

The Egyptian Exchange has opened Monday’s session incurring losses of EGP 1.24 billion driven by early local selling pressures amid the country’s current political condition. The capital market has amounted to EGP 377.139 billion, according to data compiled by Amwal Al Ghad at 11:15 a.m. Cairo time (09:15 GMT) during Monday’s opening session.

The EGX indices opened in red notes.

Benchmark EGX30 fell by 0.43% to 5555.55  p; while EGX20 dipped by 0.23% to 6446.76 p.

Meanwhile, the mid- and small-cap index, the EGX70 inched down by 0.30% to 472.63 p.  Price index EGX100 declined by 0.26% to 800.21 p.

This was after trading in 115 listed securities; 47 declined, 26 advanced; while 42 keeping their previous levels.

During Monday’s opening session, the trading volume has reached 16.605 million securities worth EGP 44.160 million, exchanged 2.772 transactions.

EGX opening losses were driven by local selling pressures as they were net sellers seizing 74.73% of the total markets, with a net equity of EGP 5.475 million excluding the deals.

Meanwhile, the non-Arab foreigners and Arabs were net buyers seizing 15.95% and 9.33% respectively, of the total markets, with a net equity of EGP 5.395 million and EGP 79.595 thousand excluding the deals.

For the leading EGX-listed firms’ stocks, Orascom Telecom Media And Technology Holding SAE (OTMT.CA) tumbled by 1.61% to EGP 0.61. Orascom Telecom Holding SAE (ORTE.CA)’s stock dropped by 0.94% to EGP 4.23. Egyptian Financial Group-Hermes Holding (HRHO.CA)’s stock went down by 0.55% to EGP 11.05. Orascom Construction Industries – OCI (OCIC.CA)’s stock inched down by 0.52% to EGP 263.50.