Egypt Shares Slightly down at Open amid Early Sell-offs

Egypt’s stocks opened slightly lower on Thursday with losses amounting to 264 million Egyptian pounds amid local and non-Arab foreign selling pressures. Consequently, the main stock index, EGX30 started trading mildly lower as well.

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

The Benchmark EGX30 dipped by 0.06% to 8075.31 p, and EGX20 dropped by 0.03% to 9695.97 p.

Meanwhile, the mid- and small-cap index, the EGX70 tumbled by 0.07% to 600.52 p.  Price index EGX100 fell by 0.03% to 1054 p.

Furthermore, market capitalization reached EGP 475.700 billion, according to data compiled by Amwal Al Ghad English at 11:20 a.m. Cairo time (09:20 GMT).

Trading Volumes & Values

The trading volume has recorded 29.680 million securities worth EGP 71.387 million, exchanged through 3334 transactions during Thursday opening.

Also during the opening session, 104 listed securities have been traded in; 54 fell, 24 advanced; while 26 keeping their previous levels.

Investors’ Activities

Egyptian and the non-Arab foreign investors were net sellers at early trade on Thursday seizing 92.26% and 2% respectively of the total markets, with a net equity of EGP 2.093 million and EGP 305.661 thousand respectively, excluding the deals.

On the other hand, Arab investors were net buyers capturing 5.74% of the total market, with a net equity of EGP 2.399 million, excluding the deals.