Egypt Shares Plummet on Local, Non-Arab Foreign Sell-offs – Midday

Egyptian stocks went on their downturn trend on Tuesday incurring midday losses of EGP 943 million driven by the local and non-Arab foreign selling pressures. The benchmark index further dropped below 6240 points during midday.

The Egyptian Exchange’s indices were wavering in red notes during the midday session, except for the Price index EGX100 which solely advanced.

The Benchmark EGX30 tumbled by 0.17% to 6238.11 p; while EGX20 also inched down by 0.36% to 7274.7 p.

Additionally, the mid- and small-cap index, the EGX70 fell by 0.09% to 519.31 p.  Price index EGX100 rose by 0.22% to 871.62p.

The capital market has hit EGP 405.054 billion on Tuesday, according to data compiled by Amwal Al Ghad English at 12:45 p.m. Cairo time (10:45 GMT).

Trading Volumes & Values

The trading volume has recorded 39.623 million securities worth EGP 116.533 million, exchanged through 6838 transactions during Tuesday midday.

Also during the midday session, 160 listed securities have been traded in; 94 fell, 34 advanced; while 32 keeping their previous levels.

Investors’ Activities

Egyptians and the non-Arab foreigners were net sellers seizing 78.24% and 16.39% respectively of the total markets, with a net equity of EGP 26.451 thousand and EGP 4.303 million respectively, excluding the deals.

Meanwhile, Arabs were net buyers acquiring 5.37% of the total market, with a net equity of EGP 4.330 million, excluding the deals.