Egypt stocks end week 3-year low, EGX30 plunges 5.6%

Egypt’s stock sharply dropped in the last session of the week with losses 17.7 billion Egyptian pounds (US$2.26 billion) amid regional and global worries on the China’s economy and fall in Brent prices.

The market capitalisation has recorded 384.037 billion pounds during the closing session of Thursday.

Indices

Egypt’s benchmark index, EGX30 sank 5.60 percent to 5857.7 points.

EGX50 EWI index dived 6.08 percent to 1030.15 points.

EGX20 plummeted 5.93 percent to 5775.63 points.

In addition, the mid- and small-cap index EGX70 tumbled 6.12 percent to 336.41 points. The price index, EGX100 pushed down 5.02 percent 694.6 points.

Turnovers weak

On Thursday, the bourse’s trading volume hit 257.406 million securities, with turnovers closed at 554.038 billion pounds, exchanged through 20,485 transactions.

Also during the closing session, 177 listed securities have been traded in; 155 declined, 3 advanced; while 19 kept their previous levels.

Investors’ Activities

Arab and foreign investors were net buyers Thursday seizing 7.95 and 7.91 percent respectively of the total markets, with a net equity of 33.303 million pounds and 6.654 million pounds, respectively, excluding the deals.

On the contrary, Local investors were net sellers getting 84.14 percent of the total market, with a net equity of 39.957 million pounds, excluding the deals.