Egypt Stocks lose EGP6.4 billion on Local and Arab Selloffs

Egypt’s stock market shares closed lower on Wednesday incurring losses worth 6.4 billion Egyptian pounds (US$838.7 million) driven by local and Arab sell-offs. The country’s main stock index, EGX30 retreated below 9470 points.

Meanwhile, the rest of the Egyptian Exchange’s indices were wavering on red notes during the closing session of Wednesday.

Indices:

The EGX30 edged down by 1.48 percent to close at 9469.08 points. EGX20 dropped by 1.51 percent to 10356.47 points.

In addition, the mid- and small-cap index EGX70 tumbled by 1.17% to 562.95 points. The price index, EGX100 plummeted by 1.10% to 1124.06 points.

Turnovers climb
Throughout the closing session of Wednesday, the trading volume has reached 93.950 million securities, with turnovers climbed to EGP 1.045 billion, exchanged through 17.537 thousand transactions.                       

Also during the closing session, 179 listed securities have been traded in; 116 declined, 36 advanced; while 18 kept their previous levels.
Furthermore, the market capitalization recorded EGP 510.900 billion on Wednesday.

Investors’ Activities

Local and Arab investors were net sellers on Wednesday seizing 88.88% and 2.17% respectively of the total markets, with a net equity of EGP 12.490 million and EGP 9.130 million, respectively, excluding the deals.

On the other hand, the non-Arab foreign investors remained net buyers capturing 8.94% of the total market, with a net equity of EGP 21.621 million, excluding the deals.