Egypt Stocks Lose EGP611 mln at Midday

Egypt’s stock market dropped during the midday session of Wednesday incurring losses of EGP 611 million driven by local and non-Arab foreign sellers.

Accordingly, the benchmark also inched down.

The Egyptian Exchange’s indices were wavering on red notes on Wednesday noon.

Benchmark EGX30 edged down by 0.16% to 5350.35 p; while EGX20 dipped by 0.16% to 6239.68 p.

On the other hand, the mid- and small-cap index, the EGX70 fell by 0.29% to 426.42 p.  Price index EGX100 went down 0.22% to 734.04 p.

The capital market has reached EGP 357.080 billion during the midday session of Tuesday, according to data compiled by Amwal Al Ghad English at 12:15 p.m. Cairo time (10:15 GMT).

Trading Volumes & Values

The trading volume has recorded 68.286 million securities worth EGP 150.431 million, exchanged through 9.431 thousand transactions during Tuesday midday.

Also during the midday session, 138 listed securities have been traded in; 48 declined, 53 advanced; while 37 steadied.

Investors’ Activities

Local and the non-Arab foreign selling pressures have driven EGX’s midday losses as they were net sellers seizing 83.03% and 13.87% respectively, of the total markets, with a net equity of EGP 586.581 thousand and EGP 2.874 million, excluding the deals.

Meanwhile,  Arab investors were net buyers seizing during midday 3.1% of the total markets, with a net equity of EGP 3.461 million excluding the deals.