Egypt’s stock market turned to losses by the end of trading on Wednesday, with losses worth 45 Egyptian pounds amid local profit-taking. In addition, the main stock index – EGX30 pared early rally to close at 7930 points.
Meanwhile, the Egyptian Exchange (EGX) indices were wavering in mixed notes on Wednesday afternoon driven by the three blasts hit Cairo University earlier this day.
A series of explosions outside Cairo University killed two people on Wednesday, including a police brigadier-general and a civilian – and wounded seven, three senior police officers and four civilians, security officials said, in what appeared to be the latest militant attack in a fast-growing insurgency.
There was no immediate claim of responsibility but Islamist militants have carried out many similar operations against security forces since the army ousted President Mohamed Morsi of the Muslim Brotherhood in July after mass protests against him.
Egypt’s benchmark index EGX30 closed 0.13 per cent lower to 7930.07 pts; while EGX20 finished 0.27 per cent down to 9515.28 pts.
On the contrary, the mid- and small-cap index, the EGX70 fell by 0.64 per cent to end at 590.43 pts. The price index EGX100 dropped by 0.54 per cent to conclude at 1036.23 pts.
Furthermore, the market capitalization recorded EGP 471.203 billion on Wednesday.
Turnovers above below
Through the closing session of Wednesday, the trading volume has reached 226.827 million securities, with turnovers worth EGP 765.105 million, exchanged through 32.222 thousand transactions.
Also during the closing session, 180 listed securities have been traded in; 109 declined, 47 advanced; while 24 keeping their previous levels.
Egyptian investors were net sellers seizing 81.88% of the total market, with a net equity of EGP 96.848 million, excluding the deals.
On the other hand, Arab and the non-Arab foreign investors were net buyers capturing 7.95% and 10.17% respectively of the total markets, with a net equity of EGP 44.162 million and EGP 52.685 million respectively, excluding the deals.
At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price fall on Wednesday by 1.04 percent to EGP 12.37.
Market bellwether Commercial International Bank S.A.E. (COMI.CA) tumbled by 0.59 percent to EGP 36.80.
In the real estate sector, Palm Hills Development Company (PHDC.CA) inched down by 2.66 percent to trade at EGP 3.66, Talaat Moustafa Group Holding (TMGH.CA) declined by 0.50 percent to trade at EGP 7.91, in addition the Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) plunged by 2.60 percent to close at EGP 25.05.