Egypt stocks slump Monday on Arab selloff

Egypt’s stocks inched lower Monday incurring losses worth 2.1 billion Egyptian pounds (US$261 million) on Arab investors’ selling pressures.

The market capitalisation recorded 457.600 billion pounds during the closing session of Monday.

Indices

Egypt’s benchmark index, EGX30 dropped 0.99 percent to 7577.53 points.

EGX50 EWI index went down 1.09 percent to1283.99 points.

EGX20 fell 1.15 percent to 7400.78 points.

In addition, the mid- and small-cap index EGX70 sagged 0.82 percent to 397.85 points. The price index, EGX100 decreased 0.71percent to 858.47points.

Turnovers still low

On Monday, the bourse’s trading volume has hit 460.535 million securities, with turnovers closed at 789.918 million, exchanged through 21,853 thousand transactions.

Also during the closing session, 170 listed securities have been traded in; 105 declined, 27 advanced, and 33 kept their previous levels.

Investors’ Activities

Arab investors were net sellers Monday seizing 7.06 percent the total market, with a net equity of 28.691 million pounds, excluding the deals.

On the contrary, local and non-Arab investors were net buyers seizing 82.5 percent and 10.44 percent respectively of the total markets, with a net equity of 10.642 million pounds and 18.049 million pounds, respectively, excluding the deals.