Egypt Market Losses $1.5bn, EGX30 hits 15-months Low

Egypt’s stock market edged lower Monday with losses worth 11.9 billion Egyptian pounds (US$ 1.5 billion) on foreign selling pressures.

The main stock index, EGX30, sank 4.23 percent to 7870.7 points, marking its lowest levels in 15 months,

The market capitalization has recorded 484.187 billion pounds during the closing session of Monday.

Indices

EGX20 sagged by 4.61 percent to 7996.3 points.

In addition, the mid- and small-cap index EGX70 inched lower by 3.08 percent to 425.02 points. The price index, EGX100 dropped by 2.81 percent to 902.5 points.

Turnovers low

On Monday, the bourse’s trading volume has hit 148.560 million securities, with turnovers closed at EGP 567.406 million, exchanged through 18.124 thousand transactions.

Also during the closing session, 164 listed securities have been traded in; 122 declined, 13 advanced; while 25 kept their previous levels.

Investors’ Activities

Arab and non-Arab investors were net sellers on Monday getting 8.7% and 26.93% respectively of the total markets, with a net equity of EGP 2.495 million and EGP 7.020 million, respectively, excluding the deals.

On the contrary, the Egyptian investors were net buyers seizing 64.36% of the total market, with a net equity of EGP 9.516 million, excluding the deals.