EGX Losses EGP 25 Bln, Benchmark Dives 8.99% As Trading Resumed

After a 30-minute suspension, the Egyptian Exchange (EGX) has resumed trading reporting losses of EGP 25 billion as the capital market has amounted to EGP 347.991 billion, according to data compiled by Amwal Al Ghad at 11:46 a.m. Cairo time (09:46 GMT).

The EGX has resumed trading at 11:01 a.m. after it was halted due to the indices’ opening losses which exceeded 5%.

The EGX indices resumed trading in dark red.

The main index, EGX30 pushed down by 8.99% to 4950.08 p. EGX20 dived 8.75% to 5679.5 p.

Meanwhile, the mid- and small-cap index, the EGX70 sank by 6.92% to 447.65 pts.  Price index EGX100 edged down by 7.68% to 744.8 p.

Traded volume reached 58.337 million securities worth EGP 150.012 million, exchanged 7.191 thousand transactions.

This was after trading in 177 listed securities; 151 declined, 1 advanced; while 25 keeping their previous levels.

EGX’s losses were driven by local selling pressures.

Egyptians were net sellers seizing 76.28% of the total markets, with a net equity of EGP 42.061 million excluding the deals.

On the other hand, Arabs and the non-Arab Foreigners were net buyers seizing 5.32% and 18.4% respectively, of the total markets, with a net equity of EGP 2.671 million and EGP 39.390 million excluding the deals.