Egypt Stocks start week in red notes

Stocks fell Sunday incurring losses worth 5,4 billion Egyptian pounds (US$690 million) driven by local and Arab selloffs.

Market capitalisation has reached 489,537 billion pounds during the closing session of Sunday.

The Egyptian Exchange closed Thursday August 6, on the occasion of inaugurating the New Suez Canal.

Indices

Egypt’s benchmark index, EGX30 dropped 1.27 percent to 8011.06 points.

Newly-launched EGX50 EWI index also decreased 1.87 percent to 1423.84 points.

EGX20 plunged 2.01 percent to 8008.14 points.

In addition, the mid- and small-cap index EGX70 plummeted by 2.08 percent to 446.74 points. The price index, EGX100 shrunk 1.29 percent to 931.73 points.

Turnovers humble

On Sunday, the bourse’s trading volume has hit 144,436 million securities, with turnovers closed at 489,872 million pounds exchanged through 18,664 thousand transactions.

Also during the closing session, 174 listed securities have been traded in; 111 declined, 23 advanced; while 37 kept their previous levels.

Investors’ Activities

Egyptian and Arab investors were net sellers Sunday seizing 88.41% and 4.05% respectively of the total markets, with a net equity of 16,612 million and 3,032 million pounds, respectively, excluding the deals.

On the contrary, non-Arab investors were net buyers capturing 7.54% of the total market, with a net equity of 19,645 million pounds, excluding the deals.