Egypt Shares Open Lower, EGX 30 Below 6300 on Tuesday

On early Tuesday, Egyptian stocks have opened lower incurring losses of EGP 1.6 billion driven by foreign selling pressures. The main gauge started sessions on Tuesday below 6300 points.

The Egyptian Exchange’s indexes were wavering in red notes for the third day in a row for this week, except for the mid- and small-cap index, the EGX 70 which solely rose by 0.1%.

The Benchmark EGX30 tumbled by 0.98% to 6294.4 p; while EGX20 decreased by 0.71% to 7337.8 p.

On the other hand, the mid- and small-cap index, the EGX70 rose by 0.11% to 528.02 p.  Price index EGX100 fell by 0.03% to 881.62 p.

The capital market has reached EGP 408.760 billion on Tuesday, according to data compiled by Amwal Al Ghad English at 11:06 a.m. Cairo time (09:06 GMT).

Trading Volumes & Values

The trading volume has recorded 8.595 million securities worth EGP 34.422 million, exchanged through 1493 transactions during Tuesday opening.

Also during the opening session, 81 listed securities have been traded in; 38 fell, 15 advanced; while 28 keeping their previous levels.

Investors’ Activities

The non-Arab foreigners and Arabs were net sellers battering EGX’s early losses as they seized 25.39% and 6.82% respectively of the total markets, with a net equity of EGP 9.761 million and EGP 135.646 thousand respectively, excluding the deals.

Meanwhile, Egyptians were net buyers acquiring 67.79% of the total market, with a net equity of EGP 9.896 million, excluding the deals.