Egypt’s bourse ended lower on Monday with losses totalling 9.5 billion pounds driven by local sell-offs. Accordingly, the country’s main stock index – EGX30 dives to close below 7860 points.
Additionally, the Egyptian Exchange (EGX) indices were wavering in dark red notes on Monday afternoon.
Egypt’s benchmark index EGX30 ended 2.68 per cent lower to 7859.29 pts; while EGX20 finished 2.71 per cent down to 9418.04 pts.
Meanwhile, the mid- and small-cap index, the EGX70 sank by 2.79 per cent to close at 634.04 pts. The price index EGX100 pushed down by 2.73 per cent to conclude at 1087.46 pts.
Furthermore, the market capitalization recorded EGP 482.097 billion on Monday.
Turnovers below One Billion Pounds
Through the closing session of Monday, the trading volume has reached 318.490 million securities, with turnovers worth EGP 920.640 million, exchanged through 38.364 thousand transactions.
Also during the closing session, 191 listed securities have been traded in; 172 declined, 12 advanced; while 7 keeping their previous levels.
Local investors remained net sellers on Monday capturing 88.55% of the total market, with a net equity of EGP 43.144 million, excluding the deals.
On the other hand, Foreign and Arab investors were net buyers seizing 4.71% 6.73% respectively of the total markets, with a net equity of EGP 23.403 million and 19.741 million respectively, excluding the deals.
At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price fall by 3.13 percent to EGP 12.06.
Market bellwether Commercial International Bank S.A.E. (COMI.CA) inched down by 2.99 percent to EGP 35.70.
In the real estate sector, Palm Hills Development Company (PHDC.CA) tumbled by 3.54 percent to trade at EGP 3.27, Talaat Moustafa Group Holding (TMGH.CA) dropped by 3.39 percent to trade at EGP 7.70, and Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) dived by 4.99 percent to close at EGP 23.60.