Egypt stocks drop on profit-taking after 5-session rally

Egypt stocks, which surged the past five sessions, tumbled on Sunday as investors took profit from the recent rally.

Egypt’s main index, EGX30 dropped 0.26 percent, to 7465.86 points. The index jumped 14 percent during the five-day winning streak, rising above its 200-day average for the first time since March 2015.

Additionally, EGX50 EWI index has edged down 1.06 percent, to 1359.2 points; while EGX20 fell 0.46 percent, to 7720.36 points.

Mid- and small-cap index EGX70 decreased 0.38 percent, to 360.42 points. Price index, EGX100 also went down 0.34 percent to 781.04 points.

Market Caps

Market capitalisation has incurred losses worth 3.2 billion Egyptian pounds ($360.4 million), ending at 447.503 billion pounds during the closing session of Sunday.

Turnovers surge

On Sunday, the bourse’s trading volume hit 529.280 million securities, with turnovers closed at 2.166 billion pounds, exchanged through 36,731 transactions.

Also during the closing session, 177 listed securities have been traded in 97 declined, 50 advanced; while 27 kept their previous levels.

Investors’ Activities

Local investors were net sellers Sunday seizing 59.57 percent of the total market, with a net equity of 750.724 million pounds, excluding the deals

On the contrary, Arab and Non-Arab investors were net buyers capturing 23.83 and 16.6 percent respectively of the total markets, with a net equity of 134.496 million pounds and 616.228 million pounds, respectively, excluding the deals.