Egypt’s stock market ended lower on Monday with losses totalling 257 million Egyptian pounds amid non-Arab foreign sell-offs. Yet, the main stock index – EGX30 rebounds on Monday to close at 7530.
Meanwhile, the Egyptian Exchange (EGX) indices were wavering in mixed notes on Monday afternoon.
Egypt’s bourse management held on Monday an emergency meeting with heads of brokerage firms and funds, to review reasons behind the recent massive decline in equities.
Dr. Mohamed Omran, EGX Chairman said he will hold an emergency meeting with managers of brokerage firms and funds operating in the local exchange, both governmental and private, to look into the market conditions and reasons behind the recent steep decline in equities.
The top official invited fund managers to discuss reasons for the selling tendency of some funds over the recent period that drove stocks and indexes lower.
Egypt’s benchmark index EGX30 closed 0.08 per cent higher to 7530.11 pts; while EGX20 finished 0.21 per cent up to 8922.74 pts.
On the contrary, the mid- and small-cap index, the EGX70 dropped by 0.75 per cent to end at 564.01 pts. The price index EGX100 went down by 0.54 per cent to conclude at 992.87 pts.
Furthermore, the market capitalization recorded EGP 453.348 billion on Monday.
Turnovers below one Billion Pounds
Through the closing session of Monday, the trading volume has reached 245.569 million securities, with turnovers worth EGP 675.291 million, exchanged through 30.426 thousand transactions.
Also during the closing session, 180 listed securities have been traded in; 82 declined, 78 advanced; while 20 keeping their previous levels.
The non-Arab foreign investors were net sellers seizing 8.25% of the total market, with a net equity of EGP 59.212 million, excluding the deals.
On the other hand, Egyptian and Arab investors were net buyers capturing 88.26% and 3.85% respectively of the total markets, with a net equity of EGP 58.363 million and EGP 848.445 thousand respectively, excluding the deals.