Egypt’s stocks ended this week lower with losses totalling 2.3 billion pounds driven by local profit-takers. In return, the country’s main stock index – EGX30 finished trading this week below 7950 points.
Meanwhile, the Egyptian Exchange (EGX) indices were wavering in red notes on Thursday afternoon.
Egypt’s benchmark index EGX30 closed 0.94 per cent lower to 7949.6 pts; while EGX20 finished 1.14 per cent down to 9533.35 pts.
Meanwhile, the mid- and small-cap index, the EGX70 went down by 0.59 per cent to end at 645.35 pts. The price index EGX100 also shrank by 0.54 per cent to conclude at 1103.66 pts.
Furthermore, the market capitalization recorded EGP 488.677 billion on Thursday.
Turnovers below One Billion Pounds
Through the closing session of Thursday, the trading volume has reached 242.089 million securities, with turnovers worth EGP 869.215 billion, exchanged through 36.692 thousand transactions.
Also during the closing session, 178 listed securities have been traded in; 108 declined, 55 advanced; while 15 keeping their previous levels.
Local investors remained net sellers on Thursday seizing 92.78% of the total market, with a net equity of EGP 35.006 million, excluding the deals.
On the other hand, foreign and Arab investors were net buyers capturing 3.38% and 3.84% respectively of the total markets, with a net equity of EGP 19.120 million and 15.885 million respectively, excluding the deals.
At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price decline on Thursday by 1.84 percent to EGP 12.25.
Market bellwether Commercial International Bank S.A.E. (COMI.CA) rose by 0.41 percent to EGP 36.89.
In the real estate sector, Palm Hills Development Company (PHDC.CA) inched down by 1.45 percent to trade at EGP 3.41, Talaat Moustafa Group Holding (TMGH.CA) also tumbled by 1.60 percent to trade at EGP 8.00, and Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) dropped by 0.37 percent to close at EGP 24.48.