Egypt Shares Halt 4-day Winning Streak, Open Lower on Thursday

Egyptian stocks opened lower on Thursday incurring losses of EGP 1.3 billion weighed by local and non-Arab foreign net sellers. The main gauge slumped by 0.6% on early Thursday.

The Egyptian Exchange’s indices were wavering in red notes during the opening session of Thursday.

The Benchmark EGX30 inched down by 0.57% to 6460.26 p; while EGX20 dropped by 0.51% to 7543.06 p.

Meanwhile, the mid- and small-cap index, the EGX70 decreased by 0.05% to 536.97 p.  Price index EGX100 fell by 0.10% to 897.15 p.

The capital market has reached EGP 415.876 billion on Thursday, according to data compiled by Amwal Al Ghad English at 11:07 a.m. Cairo time (09:07 GMT).

Trading Volumes & Values

The trading volume has recorded 27.500 million securities worth EGP 92.016 million, exchanged through 2643 transactions during Thursday opening.

Also during the opening session, 102 listed securities have been traded in; 60 fell, 19 advanced; while 23 keeping their previous levels.

Investors’ Activities

Egyptians and the non-Arab foreigners were net sellers triggering EGX’s opening losses as they seized 92.58% and 1.17% respectively of the total markets, with a net equity of EGP 1.665 million and EGP 401.094 thousand respectively, excluding the deals.

Meanwhile, Arabs were net buyers acquiring 6.25% of the total market, with a net equity of EGP 2.066 million, excluding the deals.