Egypt stocks remain bearish Tuesday, posts US$ 664mn losses

Egypt’s stock market tumbled Tuesday with losses estimated at 5.2 billion Egyptian pounds (US$664 million) driven by local and non-Arab foreign selling pressures.

The market capitalisation has recorded 413.424 billion pounds during the closing session of Tuesday.

Indices

Egypt’s benchmark index, EGX30 dropped 2.01 percent to 6321.39 points.

EGX50 EWI index pushed down 1.81 percent to 1093.01 points.

EGX20 dived 1.92 percent to 6204.48 points.

In addition, the mid- and small-cap index EGX70 decreased 0.97 percent to 350.08 points. The price index, EGX100 sagged 1.79 percent 748.83 points.

Turnovers remain weak

On Tuesday, the bourse’s trading volume hit 216.242 million securities, with turnovers closed at 449.144 million pounds, exchanged through 14,750 thousand transactions.

Also during the closing session, 160 listed securities have been traded in;108 declined, 23 advanced; while 26 kept their previous levels.

Investors’ Activities

Local and non-Arab foreign investors were net sellers   Tuesday seizing 78.83 percent and 17.08 percent respectively of the total markets, with a net equity of 18.901 million pounds and 2.925 million pounds, respectively, excluding the deals.

On the contrary, Arab investors were net buyers getting 4.09 percent of the total market, with a net equity of 21.827 million pounds, excluding the deals.