Egypt stocks end lower as profit-taking continues

Egypt’s stock market mostly fell for a second day this week as investors took profits from a rally inspired by future currency devaluation speculation. Main index, EGX30 dropped 0.65 percent, to 7457.5 points.

Other indices; EGX50 EWI index edged lower 0.21 percent, to 1335.6 points; while EGX20 sagged 0.27 percent, to 7705.98 points.

Mid- and small-cap index EGX70 rose 0.03 percent, to 359.76 points. Price index, EGX100 gained 0.08 percent, to 766.42 points.

Market Caps

Market capitalisation lost 1.26 billion Egyptian pounds ($141.7 million), to record 399.017 billion pounds during the closing session of Tuesday.

Turnovers

The bourse’s trading volume reached 214.284 million securities, with turnovers, closing at 767.240 million pounds, exchanged through 21,860 transactions.

Also during the closing session, 161 listed securities have been traded in, 76 declined, 49 advanced; while 34 kept their previous levels.

Investors’ Activities

Arab and non-Arab foreign investors were net sellers controlling 5.53 and 15.31 percent respectively of the total markets, with a net equity of 33.511 million pounds and 29.411 million pounds, respectively, excluding the deals.

On the contrary, local investors were net buyers capturing 79.16 percent of the total market, with a net equity of 62.923 million pounds, excluding the deals