Egypt stocks dive on foreign selling pressures at Ramadan thin trade
Egyptian stock market sank on Wednesday weighed by foreign selling pressures during the tenth day of the Muslim holy month of Ramadan.
Main index as EGX30 dived 2.05 percent, to 7414.81 points.
During Ramadan, the trading sessions start at 10 a.m. Cairo Local Time (8:00 GMT) and end at 1:30 p.m. (11:30 GMT), reducing trading hours by one hour.
Other indices; EGX50 EWI index edged down 1.62 percent, to 1340.15 points; while EGX20 plummeted 1.89 percent, to 7581.25 points.
Mid- and small-cap index EGX70 dropped 1.76 percent, to 359.72 points. Price index, EGX100 lost 1.29 percent, to 765.65 points.
Market Caps
Market capitalisation incurred losses worth 4.1 billion Egyptian pounds ($461.7 million), to record 397.757 billion pounds during the closing session of Wednesday.
Turnovers
The bourse’s trading volume reached 133.780 million securities, with turnovers, closing at 506.978 million pounds, exchanged through 13,639 transactions.
Also during the closing session, 173 listed securities have been traded in, 113 declined, 17 advanced; while 38 kept their previous levels.
Investors’ Activities
Non-Arab foreign investors were net sellers capturing 13.42 percent of the total market, with a net equity of 29.661 million pounds, excluding the deals.
On the contrary, local and Arab investors were net sellers controlling 80.56 and 6.02 percent respectively of the total markets, with a net equity of 20.559 million pounds and 9.102 million pounds, respectively, excluding the deals.
