EGX 30 Opens Below 5700 Pts On Foreign Selling Pressures

The Egyptian Exchange has opened Monday incurring losses of EGP 1.04 billion driven by foreign sellers. The capital market has amounted to EGP 383.089 billion, according to data compiled by Amwal Al Ghad at 11:03 a.m. Cairo time (09:03 GMT) during Monday’s opening session.

The EGX indices opened in red except for the mid- and small-cap index, the EGX70.

The main index, EGX30 slumped by 0.61% to 5678.72 p. EGX20 inched down by 0.71% to 6616.47 p.

Meanwhile, the mid- and small-cap index, the EGX70 edged up by 0.08% to 484.05 p.  Price index EGX100 fell by 0.07% to 812.65 p.

This was after trading in 84 listed securities; 44 declined, 6 advanced; while 34 keeping their previous levels.

During Monday’s opening session, the trading volume has reached 5.698 million securities worth EGP 12.831 million, exchanged 1.103 thousand transactions.

The EGX’s opening losses were driven by the non-Arab foreigners and Arabs’ selling pressures as they were net sellers seizing 14.22% and 5.12% respectively, of the total markets, with a net equity of EGP 1.077 million and EGP 197.255 thousand excluding the deals.

Meanwhile, Egyptians were net buyers seizing 80.66% of the total markets, with a net equity of EGP 1.274 million excluding the deals.