EGX Trims Opening Losses, Main Index Ends Above 5400 Pts

During Tuesday closing session, the Egyptian Exchange (EGX) has managed to trim its early losses to eventually hit EGP 1.3 billion as the capital market has amounted to EGP 372.094 million.

The EGX indices closed in red.

The main index, EGX30 went down by 0.07% to close at 5409.89 p. EGX20 inched lower 0.27% to end at 6182.98 p.

Meanwhile, the mid- and small-cap index, the EGX70 pushed down by 1.04% to conclude at 480.35 pts.  Price index EGX100 fell by 0.55% to finish at 807.23 p.

Due to the mounting death toll in Gaza as well as the current tensions in Mohamed Mahmoud street in Tahrir and the vague vision regarding the making of the country’s new constitution, the investors seem that they lost their appetite.

Ashraf Abdel-Aziz, head of institutional sales at Cairo-based Arabeya Securities, said the Egyptian market had also suffered from Saturday’s road/rail collision in the Upper Egyptian Assiut Governorate in which more than 50 children were killed.

There are calls for the dismissal of the country’s current government led by Dr. Hisham Kandil amid Assiut fatal train-bus accident.

It is worth noting that in Two sessions (Sunday & Monday), the EGX has incurred losses of around EGP 14.4 billion; while  the benchmark has tumbled by 4.4%.

Traded volume reached 123.296 million securities worth EGP 389.374 million, exchanged 23.883 thousand transactions.

This was after trading in 177 listed securities; 109 declined, 48 advanced; while 20  keeping their previous levels.

EGX’s losses were driven by the non-Arab Foreigners’ selling pressures for the third consecutive session.

Egyptians and Arabs were net buyers seizing 76.45% and 2.51% respectively, of the total markets, with a net equity of EGP 115.111 million and EGP 16.313 million excluding the deals.

On the other hand, the non-Arab Foreigners were net sellers seizing 21.04% of the total markets, with a net equity of EGP 131.424 million excluding the deals.