Egypt’s stocks closed deeply lower on Sunday incurring losses worth 21.3 billion Egyptian pounds triggered by foreign investors’ wide profit-taking process. In return, the country’s main stock index, EGX30 retreated further below 8720 points.
The Egyptian Exchange’s indices were wavering in dark red notes during the closing session of Sunday.
Egypt’s benchmark index EGX30 ended 5.32 per cent lower to 8715.92 pts; while EGX20 closed 6.20 per cent down to 9879.75 pts.
In addition, the mid- and small-cap index, the EGX70 dived by 5.26 per cent to finish at 580.86 pts. The price index EGX100 sagged by 4.60 per cent to conclude at 1080.35 pts.
Furthermore, the market capitalization recorded EGP 486.604 billion on Sunday.
Turnovers Surpass EGP Two billion
Through the closing session of Sunday, the trading volume has reached 254.937 million securities, with turnovers worth EGP 2.374 billion, exchanged through 29.502 thousand transactions.
Also during the closing session, 188 listed securities have been traded in; 170 declined, 5 advanced; while 8 kept their previous levels.
The non-Arab foreign and Arab investors remained net sellers seizing on Sunday 2.87% and 2.13% respectively of the total markets, with a net equity of EGP 25.278 million and EGP 19.119 million, respectively, excluding the deals.
On the other hand, local investors were net buyers capturing 95% of the total market, with a net equity of EGP 44.398 million, excluding the deals.