Egypt stocks sank on local, Arab selloff

Egyptian stock market ended lower on Wednesday driven by local and Arab investors’ selloff.

Main index, EGX30 dived 1.38 percent, to 7937.79 points.

Other indices; EGX50 EWI index sank 1.87 percent, to 1325.65 points; EGX20 tumbled 1.52 percent, to 7954.52 points.

Mid- and small-cap index EGX70 fell 1.22 percent, to 345.98 points. Price index, EGX100 dropped 1.54 percent, to 789.64 points.

Market Cap

Market capitalisation incurred losses worth 6.1 billion Egyptian pounds ($686.8 million), to record 407.776 billion pounds during the closing session of Wednesday.

Turnovers

The bourse’s trading volume reached 146.248 million securities, with turnovers, closing at 855.812 million pounds, exchanged through 14,996 transactions.

Also during the closing session, 176 listed securities have been traded in, 121 declined, 17 advanced; while 33 kept their previous levels.

Investors’ Activities

Local and Arab investors were net sellers controlling 74.33 and 6.32 percent respectively of the total markets, with a net equity of 2.994 million pounds and 13.235 million pounds, respectively, excluding the deals.

On the contrary, non-Arab foreign investors were net buyers capturing 19.35 percent of the total market, with a net equity of 16.229 million pounds, excluding the deals.