Egyptian Stock Doubles its Losses, EGX Below 4970 Pts

On Wednesday’s midday session, the EGX doubled its early losses to reach EGP 2.14  billion as the capital market has amounted to EGP 352.584 billion at 10:52 GMT (12:52 p.m in Cairo).

The main index, EGX30 fell 0.88% to reach 4961.03 p. EGX20 sank 1.03% to hit 5743.36 p.

Meanwhile, the mid- and small-cap index, the EGX70 sagged 0.37% to reach 427.08 p. Price index EGX100 went down 0.45% to close at 778.63 p.

Traded volume reached 26.415 million securities worth EGP 147.413 million, exchanged through 6.273 thousand transactions.

This was after trading in 135 listed securities; 90 declined and 24 advanced while 21 keeping their previous levels.

Egyptians and Arabs were net sellers seizing 61.86% and 4.32% respectively, of the total markets, with a net equity of EGP 11.321 million and EGP 736.788 thousand, excluding the deals.

On the other hand, non-Arab Foreigners were net buyers seizing 33.83%, with a net equity of EGP 12.058 million, excluding the deals.

EGX’s leading shares have witnessed collective downwards led by EFG-Hermes Holding (HRHO) which dived 2.13% to hit EGP 11.96.

Orascom Telecom Holding (OTH) (ORTE) went down 1.81% to reach EGP 3.25.

Orascom Telecom Media & Technology Holding (OTMT) dropped 1.41% to hit EGP 1.40.

Orascom Construction Industries (OCIC) slided down 0.71% to hit EGP 273.98.

In the meanwhile, Commercial International Bank- Egypt (COMI) witnessed no change to stay at EGP 26.01.