Egypt Stocks Open New Week Lower Following Mubarak’s Verdict

Egypt’s stocks opened a new week with losses worth 329 million Egyptian pounds following the final verdict which cleared the country’s ousted president Hosni Mubarak from murder charges during 2011 uprising. In return, the country’s main stock index, EGX30 also started trading in red below 9320 points driven by early Arab investors’ selling pressures.

The Egyptian Exchange (EGX)’s indices were wavering on red notes during the opening session of Sunday, except for the price index, EGX100 which solely went up.

Indices

The Benchmark EGX30 fell by 0.08% to 9318.84 p. In addition, EGX20 dropped by 0.17% to 10851.93 p.

The mid- and small-cap index, the EGX70 also dipped by 0.06% to 641.69 p.  Price index EGX100 rose by 0.01% to 1153.75 p.

Furthermore, market capitalization reached EGP 523.692 billion, according to data compiled by Amwal Al Ghad English at 11:19 a.m. Cairo time (09:19 GMT).

Trading Volumes & Values

The trading volume has reached 124.670 million securities worth EGP 271.066 million, exchanged through 7979 transactions during Sunday opening.

Also during the opening session, 125 listed securities have been traded in; 48 fell, 48 advanced; while 29 keeping their previous levels.

Investors’ Activities

Arab investors were net sellers at early trade seizing 10.51% of the total market, with a net equity of EGP 44.357 million, excluding the deals.

On the other hand, local and the non-Arab foreign investors were net buyers capturing 84.57% and 4.92% respectively of the total markets, with a net equity of EGP 41.777 million and EGP 2.579 million, excluding the deals.