Egypt Bourse Benchmark Opened Below 5395 Pts On Local, Arab Sellers

The Egyptian Exchange (EGX) has opened Tuesday’s session incurring early losses of EGP 952 million driven by the local and Arab selling pressures.

Egypt bourse’s indices were wavering in red notes Tuesday morning.

Benchmark EGX30 further pushed down by 0.42% to 5394.94 p; while EGX20 fell by 0.11% to 6150.81 p.

Meanwhile, the mid- and small-cap index, the EGX70 also dropped by 0.06% to 451.4 p.  Price index EGX100 plummeted by 0.35% to 758.67 p.

The capital market has amounted to EGP 363.485 billion, according to data compiled by Amwal Al Ghad English at 11:10 a.m. Cairo time (09:10 GMT) during the opening session of Tuesday.

The trading volume has reached 5.344 million securities worth EGP 31.293 million, exchanged through 1.184 transactions during Tuesday’s opening.

Also during the opening session,  65 listed securities have been traded in; 18 declined, 16 advanced; while 31 steadied.

Egyptians and Arabs’ selling pressures have driven Egyptian bourse’s opening losses as they were net sellers seizing 78.49% and 6.49% respectively, of the total markets, with a net equity of EGP 1.073 million and EGP 3.566 million, excluding the deals.

Meanwhile, the non-Arab foreigners were net buyers seizing 15.02% of the total markets, with a net equity of EGP 4.640 million excluding the deals.