EGX Tumbles 0.83%, Opens Below 5695 Pts On Local, Arab Sellers

By Yomna Yasser On Jan 15, 2013

The Egyptian Exchange (EGX) has opened Tuesday posting losses of EGP 2.15 billion driven by local and Arab selling pressures. The capital market has amounted to EGP 385.194 billion, according to data compiled by Amwal Al Ghad at 11:17 a.m. Cairo time (09:17 GMT).

The EGX indices opened in red.

The main index, EGX30 inched down by 0.83% to 5691.44 p. EGX20 sank by 1.12% to 6555.14 p.

Meanwhile, the mid- and small-cap index, the EGX70 went down by 0.78% to 484.33 p. Price index EGX100 dropped by 0.83% to 819.42 p.

This was after trading in 114 listed securities; 86 declined, 5 advanced; while 23 keeping their previous levels.

During the opening session, the trading volume has reached 16.625 million securities worth EGP 75.278 million, exchanged 3.932 thousand transactions.

Egyptians and Arabs’ selling transactions contributed to EGX’s opening losses as they were net sellers seizing 66.56% and 10.39% respectively, of the total markets, with a net equity of EGP 2.121 million and EGP 6.098 million excluding the deals.

Meanwhile, the non-Arab foreigners were net buyers during the opening session seizing 23.05% of the total markets, with a net equity of EGP 8.220 million excluding the deals.