Egypt Stocks fall on Fifth Day of Ramadan

Stocks traded lower amid Arab investors’ selloff Monday, fifth day of the Muslim holy month of Ramadan.

Yet, the market capitalisation posted gains worth 1.6 billion Egyptian pounds (US$209.6 million).

During Ramadan, the trading hours starts at 10:00 a.m. (8:00 GMT) and closes at 1:30 p.m. (11:30 GMT).

Indices

The benchmark index, EGX30 fell by 0.54 percent to 8489.41 points. EGX20 also pushed down by 1.14 percent to 8617.16 points.

In addition, the mid- and small-cap index EGX70 plummeted by 1.34 percent to 450.25 points.

The price index, EGX100 dropped by 0.91 percent to 950.43 points.

Turnovers remain Humble

On Monday, the fifth day of Ramadan, which usually causes a slowdown in trading activity, the bourse’s trading volume has recorded 89.949 million securities, with turnovers closed at 537.610 million pounds, exchanged through 12.129 thousand transactions.

Also during the closing session, 167 listed securities have been traded in; 115 declined, 20 advanced; while 29 kept their previous levels.

Investors’ Activities

Arab investors were net sellers Monday seizing 13.88% of the total market, with a net equity of EGP 113.212 million, excluding the deals.

On the contrary, local and the non-Arab foreign investors were net buyers acquiring 68.09% and 18.03% respectively of the total markets, with a net equity of EGP 4.775 million and EGP 108.437 million, respectively, excluding the deals.