Egypt’s stocks opened lower on Thursday incurring losses worth 378 million Egyptian pounds driven by foreign investors’ selling pressures. Accordingly, the country’s main stock index, EGX30 started trading below 9355 points.
The Egyptian Exchange (EGX)’s indices were wavering in red notes during the opening session of Thursday
The Benchmark EGX30 inched down by 0.25% to 9351.15 p, and EGX20 dropped by 0.28% to 11237.98 p.
In addition, the mid- and small-cap index, the EGX70 sagged by 0.37% to 654.67 p. Price index EGX100 fell by 0.30% to 1161.34 p.
Furthermore, market capitalization reached EGP 522.691 billion, according to data compiled by Amwal Al Ghad English at 11:12 a.m. Cairo time (09:12 GMT).
Trading Volumes & Values
The trading volume has reached 21.788 million securities worth EGP 142.492 million, exchanged through 4043 transactions during Thursday opening.
Also during the opening session, 110 listed securities have been traded in; 55 fell, 27 advanced; while 28 keeping their previous levels.
Arab and the non-Arab foreign investors were net sellers at early trade seizing 4.76% and 5.37% respectively of the total markets, with a net equity of EGP 4.152 million and EGP 1.020 million, excluding the deals.
On the other hand, local investors were net buyers acquiring 89.87% of the total market, with a net equity of EGP 5.172 million, excluding the deals.