Egypt Stocks Tumble at Open as Foreigners Keep Sale

Egypt’s stocks opened lower on Thursday with early losses worth 2.35 billion Egyptian pounds as foreign investors remain sell-off process. The country’s main stock index, EGX30 started trading below 9330 points.

Indices

The Benchmark EGX30 tumbled by 0.83% to 9325.8 p. In addition, EGX20 inched down by 1.27% to 10685.94 p.

The mid- and small-cap index, the EGX70 retreated by 0.94% to 622.06 p.  Price index EGX100 dropped by 0.63% to 1146.44 p.

Furthermore, market capitalization reached EGP 513.512 billion, according to data compiled by Amwal Al Ghad English at 11:09 a.m. Cairo time (09:09 GMT).

Trading Volumes & Values

The trading volume has reached 40.268 million securities worth EGP 119.192 million, exchanged through 4807 transactions during Thursday opening.

Also during the opening session, 123 listed securities have been traded in; 89 fell, 15 advanced; while 19 keeping their previous levels.

Investors’ Activities

Arab and non-Arab foreign investors were net sellers at early trade seizing 7.65% and 10.19% respectively of the total markets, with a net equity of EGP 213.487 thousand and EGP 15.212 million, excluding the deals.

On the other hand, local investors were net buyers capturing 82.16% of the total market, with a net equity of EGP 15.444 million, excluding the deals.