Egypt Stock Market falls 0.8% on Tuesday

Egypt’s stock market edged lower Tuesday with losses worth 3.15 billion Egyptian pounds (US$413 million) on foreign selling pressures.

The market capitalization has recorded 502.936 billion pounds during the closing session of Tuesday.

Indices

Egypt’s benchmark index, EGX30 fell by 0.83 percent to 8975.32 points, still well above technical support at 8860 points, its early May peak, which it surpassed this week.

EGX20 also dropped by 0.50 percent to 9537.36 points.

In addition, the mid- and small-cap index EGX70 declined by 0.23 percent to 483.17 points. The price index, EGX100 sagged by 0.78 percent to 1001.11 points.

Turnovers low

On Tuesday, the bourse’s trading volume has hit 181.859 million securities, with turnovers closed at EGP 829.615 million, exchanged through 25.321 thousand transactions.

Also during the closing session, 182 listed securities have been traded in; 84 declined, 53 advanced; while 38 kept their previous levels.

Investors’ Activities

Arab and non-Arab foreign investors remained net sellers on Tuesday seizing 6.2% and 10.47% respectively of the total markets, with a net equity of EGP 18.153 million and EGP 42.549 million, respectively, excluding the deals.

On the contrary, local investors were net buyers capturing 83.33% of the total market, with a net equity of EGP 60.702 million, excluding the deals.