Egyptian stocks choppy on local, non-Arab investors’ selloff

Egypt’s stock market traded lower on Monday driven by local and non-Arab investors’ selloff.

In Egypt, the index fell 0.83 percent, to close at 8202.43 points, with nine of the 10 most heavily traded stocks declining.

Other indices; EGX50 EWI index also sagged 0.92 percent, to 1374.44 points; EGX20 lost 1.29 percent, to 8261.26 points.

Mid- and small-cap index EGX70 rose 0.26 percent, to 358.5 points. Price index, EGX100 went up 0.13 percent, to 819.25 points.

Market Cap

Market capitalisation incurred losses worth 1.6 billion Egyptian pounds ($180.2 million), to record 414.338 billion pounds during the closing session of Monday.

Turnovers

The bourse’s trading volume reached 111.558 million securities, with turnovers, closing at 608.283 million pounds, exchanged through 15,484 transactions.

Also during the closing session, 173 listed securities have been traded in, 91 declined, 38 advanced; while 40 kept their previous levels.

Investors’ Activities

Local and non-Arab foreign investors were net sellers controlling 87.78 and 7.3 percent respectively of the total markets, with a net equity of 17.323 million pounds and 7.495 million pounds, respectively, excluding the deals.

On the contrary, Arab investors were net buyers capturing 4.92 percent of the total market, with a net equity of 24.818 million pounds, excluding the deals.