EGX Losses EGP 1.4 Bln, Benchmark Opens Below 5840 Pts On Foreign Sellers

During Thursday’s opening session, the Egyptian Exchange (EGX) has posted losses of EGP 1.4 billion.The capital market has amounted to EGP 391.731 billion, according to data compiled by Amwal Al Ghad at 11:15 a.m. Cairo time (09:15 GMT).

The EGX indices opened in red.

The main index, EGX30 tumbled by 0.54% to 5835.4 p. EGX20 fell by 0.62% to 6722.06 p.

Meanwhile, the mid- and small-cap index, the EGX70 inched down by 0.48% to 499.99 p.  Price index EGX100 slumped by 0.41% to 840.77 p.

This was after trading in 106 listed securities; 55 declined, 18 advanced; while 33 keeping their previous levels.

During the opening session, the trading volume has reached 15.322 million securities worth EGP 57.191 million, exchanged 3.107 thousand transactions.

EGX’s opening losses were driven by non-Arab foreigners and Arabs’ selling pressures preferring to switch to profit-taking process as they were net sellers seizing 21.04% and 7.74%  respectively, of the total markets, with a net equity of EGP 5.191 million and EGP 117, excluding the deals.

On the other hand, Egyptians were net sellers seizing 71.22% of the total markets, with a net equity of EGP 5.192 million excluding the deals.