Egypt Shares Close Lower on Foreign Sell-offs on Wednesday

Egyptian stocks ended lower for the fourth session in a row incurring losses totaled EGP 3.3 billion driven by foreign sell-offs. The benchmark index closed 1.3% down on Wednesday.

The Egyptian Exchange indices were wavering on red notes on Wednesday afternoon.

Egypt’s benchmark index EGX30 ended 1.29 per cent higher to 6253.24 pts, and the EGX20 also finished 1.38 per cent down to 7281.38 pts.   
Meanwhile, the mid- and small-cap index, the EGX70 fell by 0.51 per cent to conclude at 529.87 pts. The price index EGX100 decreased by 0.65 per cent to close at 881.92 pts. 
The capital market has closed at EGP 407.139 billion on Wednesday.

Turnovers 
Through the closing session of Wednesday, the trading volume has reached 159.378 million securities. For the traded value, it hit EGP 497.662 million, exchanged through 24.030 thousand transactions.      

Also during the closing session, 181 listed securities have been traded in; 131 declined, 36 advanced; while 14 keeping their previous levels.

Investors’ Activity

The non-Arab foreigners and Arabs were net sellers triggering EGX’s closing losses for they seized 15.06% and 8.67% respectively, of the total market, with net equities of EGP 7.252 million and EGP 20.719 million, excluding the deals.

On the other hand, Egyptians remained net buyers acquiring 76.27% of the total market, with a net equity of EGP 27.971 million, excluding the deals.