Egypt Stocks start this Week Bearish over foreign Selloffs

Egypt’s stocks start this week in negative red notes to encounter losses worth around two billion Egyptian pounds (US$249 million) driven by foreign investors’ selling pressures.

The country’s main stock index, EGX30 retreated below 9285 points during closing session of Sunday.

Indices:

The EGX30 tumbled by 0.54 percent to close at 9283.59 points. EGX20 dropped by 0.16 percent to 10187.51 points.

In addition, the mid- and small-cap index EGX70 dipped by 0.05% to 557.71 points. The price index, EGX100 went down by 0.21% to 1112.06 points.

Turnovers lower
Throughout the closing session of Sunday, the trading volume has reached 86.833 million securities, with turnovers climbed to EGP 438.299 million, exchanged through 16.210 thousand transactions.

Also during the closing session, 163 listed securities have been traded in; 59 declined, 63 advanced; while 38 kept their previous levels.

Furthermore, the market capitalization recorded EGP 509.217 billion on Sunday.

Investors’ Activities

The non-Arab foreign and Arab investors were net sellers on Sunday seizing 16.69% and 2.72% respectively of the total markets, with a net equity of EGP 83.875 and EGP 5.223 million, respectively, excluding the deals.

On the other hand, local investors were net buyers capturing 80.59% of the total market, with a net equity of EGP 89.099 million, excluding the deals.