Egypt Shares Fall at Early Trade, EGX30 Opens below 7760

Egypt’s stocks opened lower on Thursday incurring early losses of 511 million Egyptian pounds driven by foreign profit-taking. In return, the main stock index, EGX30 fell below 7759 points at early trade.

The Egyptian Exchange indices were wavering on red notes during the opening session of Thursday.

The Benchmark EGX30 went down by 0.12% to 7759.15 p, and EGX20 rose by 0.01% to 9236.08 p.

Meanwhile, the mid- and small-cap index, the EGX70 decreased by 0.23% to 587.25 p.  Price index EGX100 fell by 0.12% to 1030.36 p.

Furthermore, market capitalization reached EGP 462.800 billion, according to data compiled by Amwal Al Ghad English at 11:22 a.m. Cairo time (09:22 GMT).

Trading Volumes & Values

The trading volume has recorded 42.359 million securities worth EGP 106.027 million, exchanged through 5048 transactions during Thursday opening.

Also during the opening session, 114 listed securities have been traded in; 46 fell, 40 advanced; while 28 keeping their previous levels.

Investors’ Activities

Arab and the non-Arab foreign investors were net sellers at early trade on Thursday capturing 3.82% and 2.91% respectively of the total markets, with a net equity of EGP 2.793 million and EGP 1.598 million respectively, excluding the deals.

On the other hand, Egyptian investors were net buyers seizing 93.26% of the total market, with a net equity of EGP 4.391 million, excluding the deals.