Egypt Stocks Lose EGP3bn on Wednesday amid Foreigners Sell-off

Egypt’s stocks continued bearish performance incurring losses on Wednesday amounting to 3 billion driven by foreign investors’ selling appetite. In addition, the country’s main stock index, EGX30 further retreated below 9405 points.

The Egyptian Exchange’s indices were wavering in red notes during the closing session of Wednesday, except for the price index, EGX100 which solely rose.

Indices

Egypt’s benchmark index EGX30 ended 0.83 per cent lower to 9404.17 pts; while EGX20 closed 1.23 per cent down to 10823.39 pts.

In addition, the mid- and small-cap index, the EGX70 fell by 0.26 per cent to finish at 627.94 pts. The price index EGX100 grew by 0.07 per cent to conclude at 1153.74 pts.

Furthermore, the market capitalization recorded EGP 515.862 billion on Wednesday.

Turnovers below EGP One billion
Through the closing session of Wednesday, the trading volume has reached 219.309 million securities, with turnovers worth EGP 782.188 million, exchanged through 24.836 thousand transactions.                 
Also during the closing session, 188 listed securities have been traded in; 129 declined, 38 advanced; while 18 kept their previous levels.

Investors’ Activities

The non-Arab foreign and Arab investors remained net sellers seizing on Wednesday 19.79% and 8.51% respectively of the total markets, with a net equity of EGP 76.639 million and EGP 3.505 million, respectively, excluding the deals.

On the other hand, local investors were net buyers capturing 71.7% of the total market, with a net equity of EGP 80.145 million, excluding the deals.