Egypt Shares Open a New Week with Losses over EGP7 billion

Egyptian stocks opened a new week dramatically lower with early losses worth 7.3 billion Egyptian pounds driven by Arab selling pressures. Consequently, the main stock index – EGX30 further sank by 2.5% at early trading of Sunday.

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

The Benchmark EGX30 sank by 2.52% to  8043.75 p, and EGX20 also pushed down by 2.67% to 9676.35 p.

Meanwhile, the mid- and small-cap index, the EGX70 tumbled by 1.94% to 614.95 p.  Price index EGX100 dropped by 1.97% to 1072.66 p.

Furthermore, market capitalization reached EGP 480.162 billion, according to data compiled by Amwal Al Ghad English at 11:19 a.m. Cairo time (09:19 GMT).

Trading Volumes & Values

The trading volume has recorded 36.943 million securities worth EGP 117.692 million, exchanged through 4935 transactions during Sunday opening.

Also during the opening session, 139 listed securities have been traded in; 110 fell, 7 advanced; while 22 keeping their previous levels.

Investors’ Activities

Arab investors were net sellers at early trading on Sunday capturing  1.05% of the total market, with a net equity of EGP 700.412, excluding the deals.

On the other hand, Egyptian and the non-Arab foreign investors were net buyers seizing 97.28% and 1.66% respectively of the total markets, with a net equity of EGP 593.670 thousand and EGP 106.742 thousand respectively, excluding the deals.