Egyptian stocks end week 1.71% lower, EGX30 fall from multi-year peak

Egypt’s stock index dropped on Thursday from a multi-year peak and investor turnout remained strong, yet heavily skewed towards aggressive selling from local traders on profit-taking.

Main index, EGX 30 slipped 1.71 percent, to 11353.11 points, falling from a strong technical barrier at its 2008 peak of 12,039 points.

Other indices; EGX50 EWI index fell 1.47 percent, to 1789.28 points; EGX20 decreased 1.85 percent, to 11213.76 points.

Mid- and small-cap index EGX70 rose 0.42 percent, to 447.77 points. Price index, EGX100 dipped 0.09 percent, to 1061.88 points.

Market Cap

Market capitalisation incurred losses worth 6.7 billion Egyptian pounds (around $382.3 million), to record 559.784 billion pounds during the closing session of Thursday.

Turnovers

The bourse’s trading volume reached 480.157 million securities, with turnovers, closing at 1.775 billion pounds, exchanged through 41,904 transactions.

Also during the closing session, 194 listed securities have been traded in, 126 declined, 47 advanced; while 15 kept their previous levels.

Investors’ Activities

Local investors were net sellers capturing 82.14 percent of the total market, with a net equity of 66.431 million pounds, excluding the deals.

On the contrary, Arab and non-Arab foreign investors were net buyers controlling 6.47 and 11.39 percent respectively of the total markets, with a net equity of 179.533 million pounds and 66.251 million pounds, respectively, excluding the deals.