Egypt Stocks Mostly Dip at Early Trade over Power Outage

Big 5

Egypt’s bourse kicked off trading on Thursday with gains worth 939 million Egyptian pounds. Yet, the country’s main stock index, EGX30 fell below 9615 points.

The Egyptian Exchange (EGX)’s indices were wavering mostly in red notes during the opening session of Thursday, affected by the major power outage that hit various parts of Cairo and other governorates early Thursday morning.

Indices

The Benchmark EGX30 dropped by 0.15% to 9612.78 p, unlike EGX20, which went up by 0.03% to 11548.9 p.

In addition, the mid- and small-cap index, the EGX70 dipped by 0.03% to 663.45 p.  Price index EGX100 tumbled by 0.01% to 1181.38 p.

Furthermore, market capitalization reached EGP 529.062 billion, according to data compiled by Amwal Al Ghad English at 11:21 a.m. Cairo time (09:21 GMT).

Trading Volumes & Values

The trading volume has reached 19.327 million securities worth EGP 95.725 million, exchanged through 3269 transactions during Thursday opening.

Also during the opening session, 114 listed securities have been traded in; 32 fell, 50 advanced; while 32 keeping their previous levels.

Investors’ Activities

Local and the non-Arab foreign investors were net buyers at early trade acquiring 79.29% and 13.03% respectively of the total markets, with a net equity of EGP 5.192 million and EGP 4.039 million, excluding the deals.

On the other hand, Arab investors were net sellers seizing 7.68% of the total market, with a net equity of EGP 9.231 million, excluding the deals.

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