Egypt Stocks start new Week Bearish on Foreign Selloff

Egypt’s stocks closed mostly in red notes on Sunday incurring losses worth 2.8 billion Egyptian pounds (US$367 million) driven by foreign investors’ selloffs. The country’s main stock index, EGX30 plunged below 8770 points.

The market capitalization has recorded 508.424 billion pounds during the closing session of Sunday.

Indices:

Egypt’s benchmark index, EGX30 pushed down by 1.37 percent to close at 8765.34 points. EGX20 plummeted by 0.83 percent to 9376.69 points.

On the contrary, the mid- and small-cap index EGX70 grew by 0.08 percent to 494.89 points. The price index, EGX100 fell by 0.21 percent to 1006.32 points.

Turnovers near 1 billion Pounds
On Sunday, the bourse’s trading volume has hit 126.785 million securities, with turnovers closed at EGP 987.795 million, exchanged through 15.455 thousand transactions.

Also during the closing session, 173 listed securities have been traded in; 82 declined, 58 advanced; while 27 kept their previous levels.

Investors’ Activities

The non-Arab foreign and Arab investors were net sellers on Sunday seizing 5.3% and 3.47% respectively of the total markets, with a net equity of EGP 3.534 million and EGP 12.746 million, respectively, excluding the deals.

On the other hand, local investors were net buyers capturing 91.23% of the total market, with a net equity of EGP 16.280 million, excluding the deals.