Egypt Shares Tumble at Early Trade, EGX30 below 7840

Egyptian stocks incurred losses worth 3 billion Egyptian pounds at early trading on Thursday driven by the three blasts hit Cairo University a day earlier. In return, the main stock index – EGX30 retreated below 7840 points.

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

A series of explosions outside Cairo University killed two people on Wednesday, including a police brigadier-general and a civilian – and wounded seven, three senior police officers and four civilians, security officials said, in what appeared to be the latest militant attack in a fast-growing insurgency.

There was no immediate claim of responsibility but Islamist militants have carried out many similar operations against security forces since the army ousted President Mohamed Morsi of the Muslim Brotherhood in July after mass protests against him.

The Benchmark EGX30 inched down by 1.17% to 7837.11 p, and EGX20 plummeted by 1.19% to 9402.33 p.

Meanwhile, the mid- and small-cap index, the EGX70 decreased by 0.83% to 585.51 p.  Price index EGX100 tumbled by 0.84% to 1027.54 p.

Furthermore, market capitalization reached EGP 468.141 billion, according to data compiled by Amwal Al Ghad English at 11:22 a.m. Cairo time (09: 22 GMT).

Trading Volumes & Values

The trading volume has recorded 37.384 million securities worth EGP 84.083 million, exchanged through 3772 transactions during Thursday opening.

Also during the opening session, 118 listed securities have been traded in; 85 fell, 4 advanced; while 29 keeping their previous levels.

Investors’ Activities

Egyptian investors were net sellers buyers at early trading on Thursday seizing 93.08% of the total market, with a net equity of EGP 8.124 million, excluding the deals.

On the other hand, the non-Arab foreign and Arab investors were net capturing 4.85% and 2.07% respectively of the total markets, with a net equity of EGP 4.726 million and EGP 3.398 million respectively, excluding the deals.