Egypt stocks lose EGP3.8 billion hurt by Cairo Stadium Deaths

Egypt’s stock market shares ended lower on Monday with losses totalling 3.8 billion Egyptian pounds (US$498.1 million) hurt by local investors’ selloffs following Cairo Stadium deaths.

The Egyptian authorities have suspended football league matches indefinitely after clashes taken place at a stadium in Cairo on Sunday night left at least 22 people dead.

People were crushed after police fired tear gas at supporters of Zamalek who were trying to force their way in for a match against city rivals ENPPI.

Consequently, the country’s main stock index, EGX30 retreated below 9885 points on Monday.

The rest of the Egyptian Exchange’s indices were also wavering in red notes during the closing session of Monday.

Indices:

The main stock index, EGX30 edged down by 0.74 per cent to 9884.46 points. EGX20 dropped by 0.60 per cent to 10997.86 points.

Meanwhile, the mid- and small-cap index EGX70 fell by 0.40% to 599.61 points. The price index, EGX100 went down by 0.47% to 1178.58 points.

Turnovers below EGP1 billion
Throughout the closing session of Monday, the trading volume has reached 123.222 million securities, with turnovers climbed to EGP 888.209 million, exchanged through 23.314 thousand transactions.                       
Also during the closing session, 172 listed securities have been traded in; 106 declined, 38 advanced; while 25 kept their previous levels.
Furthermore, the market capitalization recorded EGP 532.938 billion on Monday.

Investors’ Activities

Local investors were net sellers seizing on Monday 79.19% of the total market, with a net equity of EGP 40.295 million, excluding the deals.

On the other hand, the non-Arab foreign and Arab investors were net buyers capturing  11.73% and 9.09% respectively of the total markets, with a net equity of EGP 16.437 million and EGP 23.858 million, respectively, excluding the deals.