Egyptian Shares Tumble at Midday amid Local Sell-offs

Egyptian stocks incurred losses of 1.8 billion pounds during the midday session of Thursday driven by local selling pressures. In return, the country’s main stock index – EGX30 fell below 7970 points during midday trading.

The Egyptian Exchange indices were wavering in red notes during midday trading session of Thursday.

The Benchmark EGX30 fell by 0.74% to 7965.66 p; EGX20 also inched down by 0.96% to 9550.56 p.

Additionally, the mid- and small-cap index, the EGX70 tumbled by 0.48% to 646.07 p.  Price index EGX100 dropped by 0.41% to 1105.13 p.

Furthermore, market capitalization reached EGP 489.151 billion, according to data compiled by Amwal Al Ghad English at 13:08 p.m. Cairo time (11:08 GMT).

Trading Volumes & Values

The trading volume has recorded 146.032 million securities worth EGP 526.433 million, exchanged through 19.785 thousand transactions during Thursday midday.

Also during the midday session, 165 listed securities have been traded in; 93 fell, 41 advanced; while 31 keeping their previous levels.

Investors’ Activities

Egyptians were net sellers seizing 87.66% of the total market, with a net equity of EGP 18.031 million, excluding the deals.

On the contrary, Arabs and the non-Arab foreigners remained net buyers capturing 5.37% and 6.97% respectively of the total markets, with a net equity of EGP 13.121 million and EGP 4.909 million respectively, excluding the deals.