EGX Losses EGP 3.55 Bln Amid Abbasiya Incidents

On Wednesday’s midday session, the EGX posted losses of EGP 3.55 billion as the capital market hit EGP 348.956 billion at 10:30 GMT (12:30 p.m in Egypt). The EGX trading was affected by the deteriorating situation in the Abbasiya district as unknown assailants have killed at least six people at a protest against Egypt’s ruling generals near the defense ministry in Cairo. Up to 100 people were also reportedly injured and are being treated at a field clinic in the Abbasiya district.

The main index, EGX30 dropped 0.91% to reach 4900.27 p. EGX20 edged down 1.99% to hit 5703.82 p.

Meanwhile, the mid- and small-cap index, the EGX70 sagged  2.22% to hit 423.03 p. Price index EGX100 fell 1.23% to close at 769.08 p.

Traded volume reached million 48.438 securities worth EGP 172.261 million, exchanged through 10.219 thousand transactions.

This was after trading in 148 listed securities; 132 declined and 11 advanced while 5 keeping their previous levels.

Egyptians nd Arabs were net sellers seizing 82.72% and 3.24% respectively of the total markets, with a net equity of EGP 82.72 million and EGP 3.424 million excluding the deals.

On the other hand, non-Arab Foreigners a were net buyers seizing 14.04%, with a net equity of EGP 14.041 million, excluding the deals.