Egyptian Stocks Log EGP3.2 bln Losses at Early Trade

Egypt’s stocks opened lower Tuesday with losses amounting to 3.2 billion Egyptian pounds driven by local and Arab investors’ selling pressures. As a result, the country’s main stock index, EGX30 moved lower below 9010 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 1.16% to 9009.58 p, unlike EGX20, which dropped by 1.41% to 10394.05 p.

In addition, the mid- and small-cap index, the EGX70 tumbled by 1.13% to 606.93 p.  Price index EGX100 also decreased by 0.96% to 1111.32 p.

Furthermore, market capitalization reached EGP 505.377 billion, according to data compiled by Amwal Al Ghad English at 11:26 a.m. Cairo time (09:26 GMT).

Trading Volumes & Values

The trading volume has reached 58.398 million securities worth EGP 203.202 million, exchanged through 8598 transactions during Tuesday opening.

Also during the opening session, 135 listed securities have been traded in; 95 fell, 21 advanced; while 19 keeping their previous levels.

Investors’ Activities

Local and Arab investors were net sellers at early trade seizing 74.32% and 6.42% respectively of the total markets, with a net equity of EGP 22.459 million and EGP 640.734 thousand, excluding the deals.

On the other hand, the non-Arab foreign investors were net buyers capturing 19.26% of the total market, with a net equity of EGP 23.100 million, excluding the deals.