EGX loses L.E4.8 billion amid Government Confidence Withdrawal

On Monday’s closing session, the EGX incurred losses reached L.E 4.8 billion as the capital market reached L.E 379.569 billion. This was because The Egyptian parliament on Sunday moved to withdraw confidence from the Ganzouri government after MPs called for its resignation during a session called to debate the government’s handling of a probe into civil society groups, including U.S.-based organizations.

The main index, EGX 30 slipped down 1.45% to close at 5223.21 pts. EGX20 dropped by 2% to close at 6130.8 pts.

Meanwhile, the mid- and small-cap index, the EGX70 dipped 2.22% to close at 496.95p. Price index EGX100 edged down 1.73% to close at 844.17p.

The total value traded recorded L.E 632.787 million; while the total volume traded reached 178.604 million securities executed over 36.116 thousand transactions this week.

This was after trading in 183 listed securities; 161 down and 18 up while 4 keeping their previous levels.