Egypt Stocks end Week Bearish ahead of CBE Rates Meeting

Egypt’s stocks edged down on Thursday with losses worth 1.5 billion Egyptian pounds (US$196.6 million) ahead of a monthly meeting of the central bank to discuss interest rates. Most analysts expect it to keep rates on hold.

The market capitalisation has recorded 489.388 billion pounds during the closing session of Thursday.

Indices

Egypt’s benchmark index, EGX30 dropped by 0.15 percent to 8626.46 points. EGX20 also plummeted by 0.88 percent to 8790.41 points.

In addition, the mid- and small-cap index EGX70 inched lower by 0.37 percent to 448.47 points.

The price index, EGX100 decreased by 0.35 percent to 951.35 points.

Turnovers end humble

On Thursday, the bourse’s trading volume has reached 191.584 million securities, with turnovers closed at EGP 486.635 million, exchanged through 13.835 thousand transactions.

Also during the closing session, 169 listed securities have been traded in; 90 declined, 27 advanced; while 47 kept their previous levels.

Investors’ Activities

Arab and non-Arab investors were net sellers on Thursday seizing 6.34% and 12.07% respectively of the total markets, with a net equity of EGP 23.924 million and EGP 64.857 million, respectively, excluding the deals.

On the contrary, local investors were net buyers capturing 81.59% of the total market, with a net equity of EGP 40.933 million, excluding the deals.