Egypt’s stock market ended this week lower with massive losses totalling 9.9 billion Egyptian pounds as local investors went on booking profits. The main stock index – EGX30 went deeply lower to close this week below 7705 points.
turned to losses by the end of trading on Wednesday, with losses worth 45 Egyptian pounds amid local profit-taking. In addition, the main stock index – EGX30 pared early rally to close at 7930 points.
Meanwhile, the Egyptian Exchange (EGX) indices were wavering in dark red notes on Thursday afternoon.
Egypt’s benchmark index EGX30 closed 2.89 per cent lower to 7701.11 pts; while EGX20 finished 3.45 per cent down to 9186.92 pts.
On the contrary, the mid- and small-cap index, the EGX70 plunged by 2.74 per cent to end at 574.27 pts. The price index EGX100 pushed down by 2.59 per cent to conclude at 1009.43 pts.
Furthermore, the market capitalization recorded EGP 461.292 billion on Thursday.
Turnovers above one Billion Pounds
Through the closing session of Thursday, the trading volume has reached 273.195 million securities, with turnovers worth EGP 1.224 billion, exchanged through 32.636 thousand transactions.
Also during the closing session, 183 listed securities have been traded in; 162 declined, 12 advanced; while 9 keeping their previous levels.
Egyptian investors were net sellers seizing 73.42% of the total market, with a net equity of EGP 520.388 million, excluding the deals.
On the other hand, Arab and the non-Arab foreign investors were net buyers capturing 13.9% and 12.68% respectively of the total markets, with a net equity of EGP 290.308 million and EGP 230.080 million respectively, excluding the deals.
At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price fall on Thursday by 0.48 percent to EGP 12.40.
Market bellwether Commercial International Bank S.A.E. (COMI.CA) inched down by 1.10 percent to EGP 36.70.
In the real estate sector, Palm Hills Development Company (PHDC.CA) dived by 3.46 percent to trade at EGP 3.63, Talaat Moustafa Group Holding (TMGH.CA) sagged by 1.63 percent to trade at EGP 7.87, in addition the Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) dropped by 1.63 percent to close at EGP 24.79.