Egypt Stocks Lose EGP4 billion at Midday

Egypt’s stocks incurred losses worth 4 billion Egyptian pounds during the midday session on Thursday, driven by foreign investors’ selling pressures. In return, the main stock index, EGX30 also retreated below 8335 points.

Meanwhile, the EGX indices were wavering in red notes during the midday session of Thursday.

Indices

The Benchmark EGX30 inched down by 1.27% to 8332.55 p, and EGX20 plummeted by 1.30% to 10058.98 p.

In addition, the mid- and small-cap index, the EGX70 fell by 1.30% to 10058.98 p.  Price index EGX100 also dropped by 0.84% to 1037.06 p.

Furthermore, market capitalization reached EGP 480.042 billion, according to data compiled by Amwal Al Ghad English at 13:12 p.m. Cairo time (10:12 GMT as Egypt turned to Daylight saving time).

Trading Volumes & Values

The trading volume has recorded 113.297 million securities worth EGP 622.729 million, exchanged through 13.213 transactions during Thursday midday.

Also during the midday trade, 160 listed securities have been traded in; 101 fell, 21 advanced; while 33 keeping their previous levels.

Investors’ Activities

The non-Arab foreign investors and Arab investors were net sellers at midday trade on Thursday seizing 14.06% and 5% respectively of the total markets, with a net equity of EGP 10.274 million and EGP 466.423 thousand respectively, excluding the deals.

On the other hand, Egyptian investors were net buyer capturing 80.94% of the total market, with a net equity of EGP 10.740 million, excluding the deals.