Egypt Stocks’ Rally slowed, EGX30 falls 0.8%

Egypt’s two-day rally slowed Wednesday as the bourse incurred losses worth 1.1 billion Egyptian pounds (US$144 million) on local and non-Arab foreign selloffs.

Egypt’s stock market had gained 3.1 percent in the two previous sessions on positive economic data and hopes that the central bank would address shortages of foreign currency.

The market capitalization has recorded 501.184 billion pounds during the closing session of Wednesday.

Indices:

Egypt’s benchmark index, EGX30 inched down by 0.82 percent to close at 8756.31 points. EGX20 fell by 0.47 percent to 9209.7 points.

Yet, the mid- and small-cap index EGX70 dropped by 0.43 percent to 471.72 points. The price index, EGX100 declined by 0.79 percent to 968.22 points.

Turnovers remain humble
On Wednesday, the bourse’s trading volume has recorded 124.220 million securities, with turnovers closed at EGP 416.254 million, exchanged through 17.737 thousand transactions.

Also during the closing session, 169 listed securities have been traded in; 88 declined, 40 advanced; while 37 kept their previous levels.

Investors’ Activities

Local and non-Arab foreign investors were net sellers on Wednesday seizing 77.69% and 16.54% respectively of the total markets, with a net equity of EGP 10.947 million and EGP 950.104 thousand, respectively, excluding the deals.

The Arab investors were net buyers capturing 5.76% of the total market, with a net equity of EGP 11.897 million, excluding the deals.