Foreign Sell-offs Drag Egypt Shares to Open Lower on Thursday

Driven by profit-taking transactions, Egyptian stocks opened lower on Thursday incurring losses totaled EGP 1.04 billion. The benchmark index starts trading below 7170.3 points.

The Egyptian Exchange indices were wavering in red notes during early trading session of Thursday.

The Benchmark EGX30 slumped by 0.45% to 7166.3 p; EGX20 also dropped by 0.18% to 8438.46 p.

Additionally, the mid- and small-cap index, the EGX70 fell by 0.36% to 568.11 p.  Price index EGX100 decreased by 0.37% to 965.51 p.

The capital market has opened Thursday’s sessions at EGP 443.576 billion, according to data compiled by Amwal Al Ghad English at 11:11 a.m. Cairo time (09:11 GMT).

Trading Volumes & Values

The trading volume has recorded 20.261 million securities worth EGP 61.938 million, exchanged through 3174 transactions during Thursday opening.

Also during the opening session, 100 listed securities have been traded in; 64 fell, 19 advanced; while 17 keeping their previous levels.

Investors’ Activities

The non-Arab foreigners and Arabs were net sellers seizing 4.78% and 3.41% respectively of the total markets, with a net equity of 806.026 thousand and 1.112 million respectively, excluding the deals.

On the contrary, Egyptians were net buyers acquiring 91.81% of the total market, with a net equity of EGP 1.918 million, excluding the deals.