EGX Loses EGP 640 Mln On Abasiya Clashes

On Sunday’s early trading, the EGX posted losses of EGP 640 million as the capital market amounted to EGP 352.374 billion amid clashes broken out near the Egyptian Defense Ministry building in Cairo early Sunday between Egyptian security forces and protesters.

The main index, EGX30 dropped 0.51% to reach 4909.80 p, While EGX20 went up 0.16% to reach 5852.71 p.

Meanwhile, the mid- and small-cap index, the EGX70 edged down 0.33% to reach 434.02 p. Price index EGX100 fell 0.20% to reach 775.97 p.

Traded volume reached 2.822 million securities worth EGP 6.384 million, exchanged through 469 thousand transactions.

This was after trading in 64 listed securities; 43 declined and 14 advanced while 7 keeping their previous levels.

Egyptians were net buyers seizing 77.31% of the total markets, with a net equity of EGP 8.442 million excluding the deals.

On the other hand, the non-Arab Foreigners and Arabs were net sellers seizing 10.76% and 11.92% respectively, with a net equity of 4.052 million and EGP 4.389 million, excluding the deals.

The Commercial International Bank- Egypt (COMI.CA) went down by 1.84% reaching EGP 25.12. EFG-Hermes Holding (HRHO) also sagged 2.36% hitting EGP 13.68. Orascom Telecom Media & Technology Holding (OTMT) fell 9.86% to reach EGP 1.56. Orascom Telecom Holding (OTH) (ORTE) slumped 2.03% to reach EGP 3.37.

At least one person has been killed and several others injured during the clashes after hundreds camped outside the Defense Ministry building on Friday night, demanding the dissolution of the presidential election committee.