Egypt Stocks Inch down at Early Trade, EGX30 below 9075

Egypt’s stocks opened lower on Tuesday incurring early losses worth 2.2 billion Egyptian pounds driven by local and Arab investors’ sell-off. Accordingly, the country’s main stock index, EGX30 kicked off trading below 9075 points.

The Egyptian Exchange (EGX)’s indices were wavering on red notes during the opening session of Tuesday.

Indices

The Benchmark EGX30 inched down by 0.94% to 9070.22 p. In addition, EGX20 fell by 0.82% to 10488.61 p.

The mid- and small-cap index, the EGX70 also dropped by 0.35% to 623.24 p.  Price index EGX100 sagged by 0.39% to 1124.8 p.

Furthermore, market capitalization reached EGP 511.117 billion, according to data compiled by Amwal Al Ghad English at 11:19 a.m. Cairo time (09:19 GMT).

Trading Volumes & Values

The trading volume has reached 51.624 million securities worth EGP 175.577 million, exchanged through 6058 transactions during Tuesday opening.

Also during the opening session, 123 listed securities have been traded in; 67 fell, 33 advanced; while 23 keeping their previous levels.

Investors’ Activities

Local and Arab investors were net sellers at early trade seizing 76.86% and 3.74% respectively of the total markets, with a net equity of EGP 2.742 million and EGP 1.738 million, excluding the deals.

On the other hand, the non-Arab foreign were net buyers capturing 19.4% of the total market, with a net equity of EGP 4.481 million, excluding the deals.