Egypt Stocks Drop at Midday, EGX30 Falls 0.7%

Egypt’s stocks incurred losses amounting to 3.7 billion Egyptian pounds during midday trade on Tuesday driven by foreign investors’ selling pressures. Consequently, the country’s main stock index, EGX30 retreated below 9515 points.

The Egyptian Exchange’s indices were wavering in red notes during the midday session of Tuesday.

Indices

The Benchmark EGX30 edged down by 0.69% to 9511.81 p; while EGX20 sagged by 0.99% to 10996.08 p.

In addition, the mid- and small-cap index, the EGX70 dropped by 0.88% to 631.8 p. Also, the Price index EGX100 decreased 0.48% to 1156.37 p.

Furthermore, market capitalization reached EGP 522.324 billion, according to data compiled by Amwal Al Ghad English at 12:57 p.m. Cairo time (10:57 GMT).

Trading Volumes & Values

The trading volume has recorded 161.311 million securities worth EGP 951.123 million, exchanged through 18.255 thousand transactions during Tuesday midday.

Also during the midday session, 178 listed securities have been traded in; 127 fell, 30 advanced; while 17 keeping their previous levels.

Investors’ Activities

The non-Arab foreign and Arab investors were net sellers at midday trade seizing 24.18% and 5.27 % respectively of the total markets, with a net equity of EGP 50.953 million and EGP 24.189 million, excluding the deals.

On the other hand, local investors were net buyers capturing 70.55% of the total market, with a net equity of EGP 75.143 million, excluding the deals.