Egypt Stocks Open New Week Lower, EGX30 Tumbles 0.8%

Egypt’s stocks kicked off a new week lower with losses amounting to 2 billion Egyptian pounds driven by early Arab investors’ selling pressures. Consequently, the country’s main stock index, EGX30 retreated below 9075 points at Sunday’s early trade.

Meanwhile, the Egyptian Exchange (EGX)’s indices were wavering in red notes during the opening session of Sunday.

Indices

The Benchmark EGX30 tumbled by 0.88% to 9072.42 p, and EGX20 inched down by 0.99% to 10890.68 p.

In addition, the mid- and small-cap index, the EGX70 dipped by 0.08% to 632.35 p.  Price index EGX100 dropped by 0.27% to 1122.48 p.

Furthermore, market capitalization reached EGP 507.957 billion, according to data compiled by Amwal Al Ghad English at 11:16 a.m. Cairo time (09:16 GMT).

Trading Volumes & Values

The trading volume has reached 27.854 million securities worth EGP 89.287 million, exchanged through 4520 transactions during Sunday opening.

Also during the opening session, 116 listed securities have been traded in; 71 fell, 22 advanced; while 23 keeping their previous levels.

Investors’ Activities

Arab investors were net sellers at early trade seizing 7.28% of the total market, with a net equity of EGP 5.600 million, excluding the deals.

On the other hand, local and the non-Arab foreign investors were net buyers capturing 89.59% and 3.12% respectively of the total markets, with a net equity of EGP 4.124 million and EGP 1.476 million, excluding the deals.