EGX remain Bearish amid Selling Pressure: Midday

The Egyptian Stock Exchange (EGX) continued posting losses reaching L.E 5.2 billion on Sunday’s midday trading. The capital Market reached L.E 370.002 billion.

The main index, EGX 30 went down 1.94% to reach 5068.92 p. The capped index, EGX20 dipped 2.23% to reach 5905.33 p.

Meanwhile, the mid- and small-cap index, the EGX70 decreased 1.67% to reach 477.14 p. Price index EGX100 downed 1.66% to reach 815.97 p.

Trades came to 8.059 transactions; worth L.E 97.746 million and volume amounted to 34 million shares.

This was after trading in 142 listed securities; 113 down and 20 up while 9 keeping their previous levels.

In addition to the impact of Pope Shenouda III’s death, the Arab and foreign investors’ selling pressure contributed to the EGX’s loss as they seized 5.95% and 4.38% respectively of the total market.

Egyptians investors were net buyers controlling 89.66% of the total market, with a net equity of L.E 4.039 million, excluding the sales deals.