Egyptian stocks trim gains, end week 0.26% lower

Egyptian stock market edged down on Thursday, trimming some of Wednesday’s gains.

Main index, EGX30 fell 0.26 percent, to 8136.44 points as 70 percent of traded shares retreated.

Telecom Egypt, which rose 2.7 percent on Wednesday after announcing it had acquired the country’s first 4G mobile licence, shed 1.0 percent to 10.00 Egyptian pounds.

Other indices; EGX50 EWI index dropped 0.47 percent, to 1373.82 points; EGX20 rose 0.04 percent, to 8260.32 points.

Mid- and small-cap index EGX70 were lower 0.24 percent, to 356.62 points. Price index, EGX100 sagged 0.17 percent, to 806.08 points.

Market Cap

Market capitalisation incurred losses worth 1.3 billion Egyptian pounds ($146.4 million), to record 412.159 billion pounds during the closing session of Thursday.

Turnovers

The bourse’s trading volume reached 88.651 million securities, with turnovers, closing at 421.438 million pounds, exchanged through 11,289 transactions.

Also during the closing session, 163 listed securities have been traded in, 74 declined, 39 advanced; while 48 kept their previous levels.

Investors’ Activities

Local and Arab investors were net sellers controlling 68.05 and 7.56 percent respectively of the total markets, with a net equity of 16.001 million pounds and 19.314 million pounds, respectively, excluding the deals.

On the contrary, non-Arab foreign investors were net buyers capturing 24.39 percent of the total market, with a net equity of 35.316 million pounds, excluding the deals.