Egypt Stocks lower on Wednesday, EGX30 falls 1.3%

Egypt’s stock market shares tumbled on Wednesday incurring losses worth 5.58 billion Egyptian pounds (US$731.4 million) driven by foreign selling pressures.

In addition, the country’s main stock index, EGX30 plummeted below 9775 points.

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

Indices:

The main stock index, EGX30 edged down by 1.31 per cent to 9770.78 points. EGX20 dropped by 1.65 per cent to 10846.85 points.

Meanwhile, the mid- and small-cap index EGX70 sagged by 1.03% to 595.02 points. The price index, EGX100 declined by 0.94% to 1168.67 points.

Turnovers still below EGP1 billion
Throughout the closing session of Wednesday, the trading volume has reached 138.519 million securities, with turnovers climbed to EGP 672.068 million, exchanged through 23.018 thousand transactions.                       
Also during the closing session, 182 listed securities have been traded in; 134 declined, 24 advanced; while 21 kept their previous levels.
Furthermore, the market capitalization recorded EGP 528.298 billion on Wednesday.

Investors’ Activities

The non-Arab foreign and Arab investors were net sellers on Wednesday seizing 16.44% and 6.08% respectively of the total markets, with a net equity of EGP 4.448 million and EGP 29.559 million, respectively, excluding the deals.

On the other hand, local investors were net buyers attaining 77.48% of the total market, with a net equity of EGP 34.007 million, excluding the deals.