Egypt: Main Index Solely Up, Shares Lose EGP1.8bn at Open

Egypt’s stocks opened lower on Wednesday amid early profit-taking transactions, with losses worth 1.8 billion Egyptian pounds. However, the main stock index, EGX30 solely rose to hit 8285 points at early trading.

The Egyptian Exchange indices were wavering on red notes during the opening session of Wednesday, except for the EGX30.

The Benchmark EGX30 went up by 0.19% to 8285.05, and EGX20 fell by 0.24% to 9937.77 p.

Meanwhile, the mid- and small-cap index, the EGX70 slumped by 0.48% to 611.79 p.  Price index EGX100 dropped by 0.48% to 1069.21 p.

Furthermore, market capitalization reached EGP 482.746 billion, according to data compiled by Amwal Al Ghad English at 11:24 a.m. Cairo time (09:24 GMT).

Trading Volumes & Values

The trading volume has recorded 85.136 million securities worth EGP 209.826 million, exchanged through 7396 transactions during Wednesday opening.

Also during the opening session, 137 listed securities have been traded in; 81 fell, 18 advanced; while 38 keeping their previous levels.

Investors’ Activities

Egyptian and Arab investors were net sellers at early trade on Wednesday seizing 84.35% and 6.54% respectively of the total markets, with a net equity of EGP 18.930 million and EGP 1.328 million respectively, excluding the deals.

On the other hand, the non-Arab foreign investors were net buyers capturing 9.11% of the total market, with a net equity of EGP 20.258 million, excluding the deals.

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