Egypt stocks plunge on heavy non-Arab selloff

Egypt’s stock market dived Monday on heavy selloffs from non-Arab foreign investors. Main index, EGX30 slipped 2.24 percent, to 8243.32 points.

Other indices; EGX50 EWI index sank 3.05 percent, to 1283.75 points; EGX20 pushed down 2.86 percent, to 8142.76 points.

Mid- and small-cap index EGX70 plummeted 2.19 percent, to 336.4 points. Price index, EGX100 fell 1.70 percent, to 787.14 points.

Market Cap

Market capitalisation posted gains worth around 7.5 billion Egyptian pounds ($845 million), to record 411.920 billion pounds during the closing session of Monday.

Turnovers

The bourse’s trading volume reached 334.993 million securities, with turnovers, closing at 1.001 billion pounds, exchanged through 22,999 transactions.

Also during the closing session, 186 listed securities have been traded in, 129 declined, 18 advanced; while 35 kept their previous levels.

Investors’ Activities

Non-Arab foreign investors were net sellers capturing 32.51 percent of the total market, with a net equity of 38.491 million pounds, excluding the deals.

On the contrary, local and Arab investors were net buyers controlling 57.56 and 9.92 percent respectively of the total markets, with a net equity of 26.360 million pounds and 12.131 million pounds, respectively, excluding the deals.