Egypt Shares Plunge at Early Trade, EGX30 below 8240

Big 5

Egypt’s stocks plummeted at early trade on Thursday, incurring losses worth 3.5 billion Egyptian pounds as foreign investors kept on profit-taking processes. Accordingly, the main stock index, EGX30 further fell below 8240 points.

The Egyptian Exchange indices were wavering on red notes during the opening trading session on Thursday.

The Benchmark EGX30 inched down by 1.13% to 8238.57 p, and EGX20 tumbled by 1.17% to 9822.47 p.

Meanwhile, the mid- and small-cap index, the EGX70 dropped by 0.36% to 608.11 p. Price index EGX100 decreased by 0.40% to 1061.56 p.

Furthermore, market capitalization reached EGP 479.711 billion, according to data compiled by Amwal Al Ghad English at 11:24 a.m. Cairo time (09:24 GMT).

Trading Volumes & Values

The trading volume has recorded 94.231 million securities worth EGP 326.100 million, exchanged through 4761 transactions during Thursday opening.

Also during the opening session, 105 listed securities have been traded in; 70 fell, 9 advanced; while 26 keeping their previous levels.

Investors’ Activities

Arab and the non-Arab foreign investors remained net sellers seizing 7.38% and 29.59% respectively of the total markets, with a net equity of EGP 11.225 million and EGP 124.661 million respectively, excluding the deals.

On the other hand, Local investors were net buyers capturing 63.02% of the total market, with a net equity of EGP 135.887 million, excluding the deals.