Egypt Stocks Hit 2-month Low As Unrest Mounts

Egypt’s stock market sharply fell during the midday session of Monday after at least 42 people were reportedly killed in violence at the Presidential Guard Club in Cairo today earlier. The Egyptian Exchange has incurred massive midday losses of EGP 8.6 billion; while the main index EGX 30 sinks following the massacre news.

Egyptian state television said the death toll in an attempt to storm the Republican Guard headquarters had risen to 42. It said an additional 322 people had been wounded, according to Dr. Mohamed Sultan – the Head of the Egyptian Ambulance Organization (EAO).

The Egyptian Exchange’s indices were wavering on dark red notes driven by the current unrest haunting the country.

Benchmark EGX30 sank by 2.74% to 5166.18 p; while EGX20 pushed down by 2.95% to 5867.33 p.

On the other hand, the mid- and small-cap index, the EGX70 dived by 4.20% to 406.89 p.  Price index EGX100 sagged by 3.18% to 706.5 p.

The capital market has reached EGP 345.538 billion during the midday session of Monday, according to data compiled by Amwal Al Ghad English at 12:31 p.m. Cairo time (10:31 GMT).

Trading Volumes & Values

The trading volume has recorded 83.857 million securities worth EGP 202.154 million, exchanged through 12.504 thousand transactions during Sunday midday.

Also during the midday session, 150 listed securities have been traded in; 122 declined, 10 advanced; while 18 steadied.

Investors’ Activities

Driven by the current polarized unstable political scene, Arabs and the non-Arab foreign investors were net sellers seizing 3.6% and 16.93% respectively, of the total markets, with a net equity of EGP 1.544 million and EGP 22.515 million, excluding the deals.

Meanwhile, Local investors were net buyers seizing 79.47% of the total markets, with a net equity of EGP 1.544 million excluding the deals.