Egypt stocks start new week with $395.6mn losses amid low turnovers

Stock market ended lower Sunday incurring losses worth 3.1 billion Egyptian pounds (US$395.6 million) amid local investors’ selloff.

The market capitalisation has reached 447.228 billion pounds during the closing session of Sunday.

Indices

Egypt’s benchmark index, EGX30 tumbled 0.65 percent to 7263.29 points.

The newly-launched EGX50 EWI index pushed down 0.92 percent to 1199.02 points.

EGX20 also fell 0.93 percent to 6868.33 points.

In addition, the mid- and small-cap index EGX70 dropped 0.58 percent to 385.39 points. The price index, EGX100 went down 0.65 percent to 833.7 points.

Modest Turnovers

On Sunday, the bourse’s trading volume has hit 90.375 million securities, with turnovers closed at 187.386 million pounds, exchanged through 10,089 thousand transactions.

Also during the closing session, 148 listed securities have been traded in; 86 declined, 23 advanced; while 38 kept their previous levels.

Investors’ Activities

Local investors remained net sellers Sunday seizing 82.66 percent of the total market, with a net equity of 6.267 million pounds, excluding the deals.

On the contrary, non-Arab foreign and Arab investors were net buyers capturing 10.48 and 6.86 percents respectively of the total markets, with a net equity of 664,670 pounds and 5.602 million pounds, respectively, excluding the deals.