Egypt’s stocks opened a new week lower with losses amounting to 635 million Egyptian driven by a potential decision by government to put up the prices of petroleum products. Accordingly, the main stock index, EGX30 started trading lower on first day of the holy month of Ramadan below 8065 points.
Meanwhile, the EGX indices were wavering in red notes during the opening session of Sunday.
The Benchmark EGX30 went down by 0.39% to 8062.52 p, and EGX20 dropped by 0.40% to 9754.56 p.
In addition, the mid- and small-cap index, the EGX70 dipped by 0.01% to 583.42 p. Price index EGX100 also decreased by 0.09% to 1022.85 p.
Furthermore, market capitalization reached EGP 473.162 billion, according to data compiled by Amwal Al Ghad English at 11:06 a.m. Cairo time (09:06 GMT).
Trading Volumes & Values
The trading volume has recorded 19.679 million securities worth EGP 159.400 million, exchanged through 1953 transactions during Sunday opening.
Also during the opening session, 75 listed securities have been traded in; 42 fell, 7 advanced; while 25 keeping their previous levels.
Egyptian investors were net sellers at early trade on Sunday seizing 64.77% of the total market, with a net equity of EGP 107.024 million, excluding the deals.
On the other hand, the non-Arab foreign investors and Arab investors were net buyers capturing 0.74% and 34.49% respectively of the total markets, with a net equity of EGP 1.066 million and EGP 105.957 million, excluding the deals.