EGX 30 Retreats 0.12%, Opens Below 5730 Pts On Local, Arab Sellers

The Egyptian Exchange (EGX) has started this week posting opening losses of EGP 328 million driven by the local and Arab selling pressures.

The capital market has amounted to EGP 388.380 billion, according to data compiled by Amwal Al Ghad at 11:06 a.m. Cairo time (09:06 GMT).

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

The main index, EGX30 inched down by 0.12% to 5727.59 p. EGX20 tumbled by 0.13% to 6640.86 p.

Meanwhile, the mid- and small-cap index, the EGX70 rose by 0.09% to 498.73 p.  Price index EGX100 fell by 0.08% to 834.59.

This was after trading in 110 listed securities; 50 declined, 24 advanced; while 36 keeping their previous levels.

During the opening session, the trading volume has reached 14.195 million securities worth EGP 45.071 million, exchanged 2.490  thousand transactions.

EGX’s early losses were driven by Egyptians as well as Arabs selling pressures as they were net sellers seizing 81.55% and 11.61%  respectively, of the total markets, with a net equity of EGP 2.086 million and EGP 438.182 thousand, excluding the deals.

Meanwhile, the non-Arab foreigners were net buyers seizing 6.84% of the total markets, with a net equity of EGP 2.524 million excluding the deals.