Egypt Bourse Indices Opened In Red Notes, Benchmark Falls To 5440 Pts

The Egyptian Exchange (EGX) has opened Monday’s session incurring early losses of EGP 238 million driven by the foreigners’ profit-taking transactions.

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

Benchmark EGX30’s up-swing trends towards were halted on early Monday as the benchmark index sagged by 0.12% to 5440.28 p; while EGX20 fell by 0.43% to 6191.34 p.

Meanwhile, the mid- and small-cap index, the EGX70 also dropped by 0.29% to 454.21 p.  Price index EGX100 plummeted by 0.16% to 765.16 p.

The capital market has amounted to EGP 365.742 billion, according to data compiled by Amwal Al Ghad English at 11:23 a.m. Cairo time (09:23 GMT) during the opening session of Monday.

The trading volume has reached 6.914 million securities worth EGP 28.602 million, exchanged through 1.780 transactions during Sunday’s opening.

Also during the opening session,  83 listed securities have been traded in; 41 declined, 12 advanced; while 30 steadied.

Arabs and the non-Arab foreigners’ selling pressures due to the profit-taking process have driven Egyptian bourse’s opening losses as they were net sellers seizing 6.15% and 5% respectively, of the total markets, with a net equity of EGP 1.4 million and EGP 997.731 thousand, excluding the deals.

Meanwhile, Egyptians were net buyers seizing 88.85% of the total markets, with a net equity of EGP 2.397 million excluding the deals.