Egypt stocks tumble 0.6% as foreigners continue selloff

Egyptian stock market closed lower on Wednesday trade as non-Arab foreign investors remain to sell.

Main index, EGX30 went lower 0.65 percent, to 8160.4 points.

Other indices; EGX50 EWI index dropped 1.08 percent, to 1248.57 points; EGX20 fell 0.88 percent, to 7958.77 points.

Mid- and small-cap index EGX70 edged down 0.27 percent, to 333.55 points. Price index, EGX100 tumbled 0.37 percent, to 783.7 points.

Market Cap

Market capitalisation incurred losses worth around 4.8 billion Egyptian pounds ($540.5 million), to record 404.102 billion pounds during the closing session of Wednesday.

Turnovers

The bourse’s trading volume reached 193.295 million securities, with turnovers, closing at 629.771 million pounds, exchanged through 16,387 transactions.

Also during the closing session, 173 listed securities have been traded in, 95 declined, 30 advanced; while 43 kept their previous levels.

Investors’ Activities

Non-Arab foreign remained net sellers capturing 32.34 percent of the total market, with a net equity of 63.858 million pounds, excluding the deals.

On the contrary, local investors and Arab investors were net buyers controlling 59.68 and 7.98 percent respectively of the total markets, with a net equity of 15.476 million pounds and 48.382 million pounds, respectively, excluding the deals.