Egypt’s stocks closed this week with massive losses worth 12.2 billion Egyptian pounds (US$1.7 billion) driven by local investors’ selling pressures. As a result, the country’s main stock index, EGX30 dived 3.4% on Thursday.
The Egyptian Exchange’s indices continued wavering in dark red notes during the closing session of Thursday.
Egypt’s benchmark index EGX30 ended 3.38 per cent lower to 8593.51 pts; and EGX20 finished 4.27 per cent down to 9829.98 pts.
In addition, the mid- and small-cap index, the EGX70 sank by 4.66 per cent to finish at 572.2 pts. The price index EGX100 sagged by 3.83 per cent to conclude at 1050.44 pts.
Furthermore, the market capitalization recorded EGP 486.704 billion on Thursday.
Turnovers above EGP One billion
Through the closing session of Thursday, the trading volume has reached 209.152 million securities, with turnovers worth EGP 1.104 billion, exchanged through 35.143 transactions.
Also during the closing session, 191 listed securities have been traded in; 166 declined, 6 advanced; while 14 kept their previous levels.
Local investors were net sellers on Thursday seizing 81.24% of the total market, with a net equity of EGP 73.907 million, excluding the deals.
On the other hand, the non-Arab foreign and Arab investors were net buyers capturing 12.03% and 6.73% respectively of the total markets, with a net equity of 39.301 million and EGP 34.606 million, respectively, excluding the deals.