Egyptian Shares Slump at Early Trade on Wednesday over Arab Sell-offs

Egypt’s stocks tumbled at early trade on Wednesday with losses amounting to 1.3 billion Egyptian pounds amid Arab investors’ sell-offs. Consequently, the main stock index, EGX30 retreated at opening below 7670 points.

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

The Benchmark EGX30 inched down by 0.49% to 7667.01 p, and EGX20 also dropped by 0.51% to 9090.36 p.

Meanwhile, the mid- and small-cap index, the EGX70 decreased by 0.22% to 579.75 p.

Furthermore, market capitalization reached EGP 459.555 billion, according to data compiled by Amwal Al Ghad English at 11:21 a.m. Cairo time (09:21 GMT).

Trading Volumes & Values

The trading volume has recorded 46.726 million securities worth EGP 92.348 million, exchanged through 4779 transactions during Wednesday opening.

Also during the opening session, 116 listed securities have been traded in; 68 fell, 21 advanced; while 27 keeping their previous levels.

Investors’ Activities

Arab investors were net sellers seizing 3.49% of the total market, with a net equity of EGP 1.625 million, excluding the deals.

On the other hand, Egyptian and the non-Arab foreign investors were net buyers capturing 88.56% and 7.95% respectively of the total markets, with a net equity of EGP 610.370 thousand and EGP 1.015 million respectively, excluding the deals.