The Egyptian Exchange has incurred losses of EGP 44 million during Wednesday’s midday session driven by the non-Arab foreign selling pressures amid imposing tax gains on the NSGB’s takeover deal.
The capital market has amounted to EGP 357.084 billion, according to data compiled by Amwal Al Ghad English between at 12:34 p.m. Cairo time (10:34 GMT) during Wednesday’s midday session.
The EGX indices hit in dark red notes, except for the benchmark which solely went up during the midday session.
Benchmark EGX30 inched up by 0.20% to 5139.45 p; while EGX20 dipped by 0.65% to 5938.14 p.
Meanwhile, the mid- and small-cap index, the EGX70 edged down by 0.15% to 447.17 p. Price index EGX100 dropped by 0.04% to 744.19 p.
During Wednesday’s midday session, the trading volume has reached 25.756 million securities worth EGP 104.764 million, exchanged 5.443 thousand transactions.
This was after trading in 130 listed securities; 43 declined, 36 advanced; while 51 keeping their previous levels.
The non-Arab foreigners’ selling pressures have driven EGX’s midday losses as they were net sellers seizing 36.98% of the total markets, with a net equity of EGP 14.480 million excluding the deals.
Meanwhile, Egyptians and Arabs were net buyers seizing 55.68% and 7.34% respectively, of the total markets, with a net equity of EGP 6.465 million and EGP 8.014 million excluding the deals.