Egyptian stock market sees negative performance early Thursday

The Egyptian stock market started Thursday’s trading session down,pressured by Arab selling.

By 10:30 am Cairo time, the benchmark EGX30 index slid 103.84 points, or 0.65 percent, to 15,805 points.

The EGX70 index fell 0.78 percent, reaching 796.31 points, while the EGX100 index declined 0.68 percent to 2,039 points.

The equal-weighted EGX50 index decreased 1.04 percent to 2,654 points.

The Egyptian Exchange (EGX) trading volume hit 31.3 million shares, exchanged at a turnover of 135.1 million pounds through 3,100 transactions.

Arab traders were net sellers with 88.5 million pounds, while local and foreign investors were net buyers with 11.12 million pounds and 77.4 million pounds, respectively.

The heavyweight Commercial International Bank’s (CIB) stock shed 0.12 percent to 84.5 pounds, with a liquidity of 627,000 pounds.

Pioneers Holding Company for Financial Investment’s stock rose 1.76 percent, followed by Elsewedy Electric’s stock with 1.07 percent, and EFG Hermes’ stock with 0.73 percent.

On the flipside, Egyptian Chemical Industries (Kima), Egypt Aluminum, and Porto Group Holding stocks went down 4.81 percent, 4.41 percent, and 3.85 percent, respectively.