Egypt’s stock market incurred losses during today’s closing session totalling 4.2 billion amid foreign selling pressures. Yet, the country’s main stock index – EGX30 solely hiked to cross 8285 points on Wednesday powered by local net buyers.
Meanwhile, the Egyptian Exchange (EGX) indices were wavering in red notes on Wednesday afternoon, except for the EGX30 which solely upped.
Egypt’s benchmark index EGX30 closed 1.10 per cent higher to 8286.85 pts; while EGX20 finished 1.33 per cent up to 10002.51 pts.
On the contrary, the mid- and small-cap index, the EGX70 pushed down by 1.63 per cent to end at 643.6 pts. The price index EGX100 also dropped by 0.89 per cent to conclude at 1114.38 pts.
Furthermore, the market capitalization recorded EGP 489.254 billion on Wednesday.
Turnovers above One Billion Pounds
Through the closing session of Wednesday, the trading volume has reached 367.062 million securities, with turnovers worth EGP 1.218 billion, exchanged through 42.788 thousand transactions.
Also during the closing session, 179 listed securities have been traded in; 56 declined, 109 advanced; while 14 keeping their previous levels.
The non-Arab foreign and Arab investors were net sellers on Wednesday seizing 5.38% and 8.02% respectively of the total markets, with a net equity of EGP 11.610 million and EGP 46.578 million respectively, excluding the deals.
On the other hand, Egyptian investors were net buyers capturing 86.6% of the total market, with a net equity of EGP 58.188 million, excluding the deals.
At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price rise on Wednesday by 0.84 percent to EGP 13.23.
Market bellwether Commercial International Bank S.A.E. (COMI.CA) increased by 0.22 percent to EGP 37.14.
In the real estate sector, Palm Hills Development Company (PHDC.CA) tumbled by 0.50 percent to trade at EGP 3.98, Talaat Moustafa Group Holding (TMGH.CA) also fell by 0.72 percent to trade at EGP 8.31, while Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) soared by 7.17 percent to close at EGP 28.10.