Egypt’s stocks opened a new week lower incurring early losses amounting to 1.3 billion Egyptian pounds driven by foreign sell-offs. Consequently, the country’s main stock index, EGX30 started trading in red at 8610 points on Sunday.

Egypt’s presidency has announced three days of national mourning after gunmen killed 21 military border guards Saturday near the border with Libya in one of the largest assaults targeting security forces in years.

Meanwhile, the EGX indices were wavering in red notes during the opening session of Sunday.

EGX is operating with shortened trading hours during the Islamic fasting month of Ramadan.

The exchange is opened from 10:00 to 13:30 Cairo time during Ramadan.

Indices

The Benchmark EGX30 fell by 0.31% to 8610.99 p, and EGX20 dropped by 0.63% to 10345.9 p.

In addition, the mid- and small-cap index, the EGX70 decreased by 0.35% to 612.99 p.  Price index EGX100 also retreated by 0.34% to 1085.86 p.

Furthermore, market capitalization reached EGP 492.896 billion, according to data compiled by Amwal Al Ghad English at 11:04 a.m. Cairo time (09:04 GMT).

Trading Volumes & Values

The trading volume has 25.669 million securities worth EGP 89.607 million, exchanged through 3245 transactions during Sunday opening.

Also during the opening session, 110 listed securities have been traded in; 65 fell, 20 advanced; while 25 keeping their previous levels.

Investors’ Activities

The non-Arab foreign and Arab investors were net sellers seizing at early trade on Sunday 7.67% and 3.03% respectively of the total markets, with a net equity of EGP 609.173 thousand and EGP 1.803 million, excluding the deals.

On the other hand, local investors were net buyers capturing 89.3% of the total market, with a net equity of EGP 2.412 million, excluding the deals.