EGX 30 Opens Below 5615 Pts On Local Selling Pressures

The Egyptian Exchange has opened Wednesday’s session posting losses of EGP 983 million driven by early local selling pressures for the second day in a row. The capital market has amounted to EGP 380.307 billion, according to data compiled by Amwal Al Ghad at 11:06 a.m. Cairo time (09:06 GMT) during Wednesday’s opening session.

The EGX indices opened in a red note.

Benchmark EGX30 fell by 0.17% to 5613.63  p; while EGX20 dipped by 0.29% to 6530.07 p.

Meanwhile, the mid- and small-cap index, the EGX70 dipped inched down by 0.76% to 476.3 p.  Price index EGX100 dropped by 0.69% to 805.57 p.

This was after trading in 110 listed securities; 70 declined, 7 advanced; while 33 keeping their previous levels.

During Wednesday’s opening session, the trading volume has reached 19.297 million securities worth EGP 68.519 million, exchanged 3.694 thousand transactions.

The EGX opening  losses were driven by local selling pressures as Egyptians were net sellers seizing 69.16% of the total markets, with a net equity of EGP 21.697 million excluding the deals.

Meanwhile, Arabs and the non-Arab foreigners’ were net buyers seizing 6.62% and 24.22% respectively, of the total markets, with a net equity of EGP 2.875 million and EGP 18.821 million excluding the deals.