Egypt Stocks End This Week with EGP8bn Losses, EGX30 Falls 2.2%

Egypt’s stocks ended this week lower with total losses worth 8 billion Egyptian pounds driven by non-Arab foreign investors’ deep selling pressures. Consequently, the country’s main stock index, EGX30 edged further below 9200 points on Thursday.

The Egyptian Exchange’s indices were wavering in dark red notes during the closing session of Thursday.

Indices

Egypt’s benchmark index EGX30 ended 2.20 per cent lower to 9196.93 pts; while EGX20 closed 2.69 per cent down to 10532.56 pts.

In addition, the mid- and small-cap index, the EGX70 sank by 2.37 per cent to finish at 613.08 pts. The price index EGX100 plummeted by 1.85 per cent to conclude at 1132.43 pts.

Furthermore, the market capitalization recorded EGP 507.920 billion on Thursday.

Turnovers below EGP One billion
Through the closing session of Thursday, the trading volume has reached 209.795 million securities, with turnovers worth EGP 799.878 million, exchanged through 30.542 thousand transactions.                 
Also during the closing session, 191 listed securities have been traded in; 154 declined, 22 advanced; while 10 kept their previous levels.

Investors’ Activities

The non-Arab foreign investors remained net sellers seizing on Thursday 17.3% of the total market, with a net equity of EGP 59.353 million, excluding the deals.

On the other hand, local and Arab investors were net buyers capturing 76% and 6.7% respectively of the total markets, with a net equity of EGP 48.582 million and EGP 10.771 million, respectively, excluding the deals.