Egyptian Exchange ends Week with Losses worth $294mn

Egypt’s stocks concluded lower on Wednesday with losses worth 2.3 billion Egyptian pounds (US$293.8 million).

The market capitalisation has reached 494.969 billion pounds during the closing session of Wednesday.

The Egyptian Exchange will be officially closed on Thursday August 6, on the occasion of inaugurating the New Suez Canal to re-open on 9 August.

Indices

Egypt’s benchmark index, EGX30 inched lower by 0.83 percent to 8114.08 points.

The newly-launched EGX50 EWI index dropped by 0.98 percent to 1450.95 points.

EGX20 decreased by 1.15 percent to 8172.78 points.

In addition, the mid- and small-cap index EGX70 plummeted by 1.57 percent to 456.24 points. The price index, EGX100 shrunk by 0.48 percent to 943.86 points.

Turnovers up

On Wednesday, the bourse’s trading volume has hit 184.238 million securities, with turnovers closed at EGP 1.248 billion, exchanged through 24,049 thousand transactions.

Also during the closing session, 178 listed securities have been traded in; 112 declined, 36 advanced; while 25 kept their previous levels.

Investors’ Activities

Egyptian and  Arab investors were net buyers on Wednesday seizing 88.65% and 2.98% respectively of the total markets, with a net equity of EGP 8.900 million and EGP 2.367 million, respectively, excluding the deals.

On the contrary, non-Arab investors were net sellers getting 8.36% of the total market, with a net equity of EGP 11.268 million, excluding the deals.