Egypt’s stocks opened lower on Tuesday incurring early losses of EGP 501 million driven by local selling pressures. The benchmark index fell by 0.3 per cent on Tuesday morning.
The Egyptian Exchange’s indices were wavering in red notes this morning, except for the mid-and small-cap index EGX 70 which solely rose.
The Benchmark EGX30 slumped by 0.30% to 5524.98 p; while EGX20 dropped by 0.42% to 6442.16 p.
On the other hand, the mid- and small-cap index, the EGX70 went down by 0.13% to 472.87 p. Price index EGX100 dipped by 0.22% to 790.99 p.
The capital market has opened at EGP 373.294 billion on Tuesday according to data compiled by Amwal Al Ghad English at 11:05 a.m. Cairo time (09:05 GMT).
Trading Volumes & Values
The trading volume has recorded 10.489 million securities worth EGP 39.565 million, exchanged through 1694 transactions during Tuesday opening.
Also during the opening session, 91 listed securities have been traded in; 36 fell, 29 advanced; while 26 keeping their previous levels.
Local selling pressures have driven EGX’s early losses as they were net sellers seizing 65.7%, of the total markets, with a net equity of EGP 2.291 million excluding the deals.
Meanwhile, the non-Arab foreigners and Arabs remained net buyers as they seized 32.39% and 1.92% respectively of the total markets, with a net equity of EGP 1.763 million and EGP 527.596 thousand respectively, excluding the deals.