Egypt Stocks down for Second Straight Session, EGX30 falls 1.9%

Egypt’s stock market tumbled on Monday with losses worth 6.1 billion Egyptian pounds (US$799.7 million) with heavy selling pressures from foreign investors. The country’s main stock index, EGX30 plunged deep below 8600 points.

The market capitalization has hit 502.290 billion pounds during the closing session of Monday.

Indices:

Egypt’s benchmark index, EGX30 sank by 1.93 percent to close at 8595.78 points. EGX20 plummeted by 1.84 percent to 9204.23 points.

On the contrary, the mid- and small-cap index EGX70 edged lower by 1.38 percent to 488.06 points. The price index, EGX100 tumbled by 1.36 percent to 992.59 points.

Turnovers Humble
On Monday, the bourse’s trading volume has recorded 97.847 million securities, with turnovers closed at EGP 404.274 million, exchanged through 15.525 thousand transactions.

Also during the closing session, 169 listed securities have been traded in; 130 declined, 18 advanced; while 20 kept their previous levels.

Investors’ Activities

The non-Arab foreign and Arab investors remain net sellers on Monday seizing 19.96% and 6.99% respectively of the total markets, with a net equity of EGP 13.417 million and EGP 21.974 million, respectively, excluding the deals.

On the other hand, local investors were net buyers acquiring 73.05% of the total market, with a net equity of EGP 35.392 million, excluding the deals.