Egyptian Stocks Drop at Midday, Lose EGP1.7bn

Egypt’s stocks tumbled at midday session on Thursday with losses worth 1.7 billion Egyptian pounds driven by Arab investors’ sell-offs. Consequently, the main stock index, EGX30 also retreated below 8465 points.

Meanwhile, the EGX indices were wavering mostly in red notes during the midday session of Thursday, except for the Price index EGX100 which solely rose.

EGX is operating with shortened trading hours during the Islamic fasting month of Ramadan.

The exchange is opened from 10:00 to 13:30 Cairo time during Ramadan.

Indices

The Benchmark EGX30 went down by 0.39% to 8462.17 p, and EGX20 pushed down by 0.92% to 10198.22 p.

In addition, the mid- and small-cap index, the EGX70 decreased by 0.29% to 608.32 p.  Yet, the Price index EGX100 rose by 0.08% to 1073.16 p.

Furthermore, market capitalization reached EGP 487.337 billion, according to data compiled by Amwal Al Ghad English at 12:32 p.m. Cairo time (10:32 GMT).

Trading Volumes & Values

The trading volume has recorded 111.630 million securities worth EGP 410.774 million, exchanged through 10.906 transactions during Thursday midday.

Also during the opening session, 140 listed securities have been traded in; 78 fell, 39 advanced; while 21 keeping their previous levels.

Investors’ Activities

Arab investors were net sellers at midday trade on Thursday seizing 7% of the total market, with a net equity of EGP 15.580 million, excluding the deals.

On the other hand, Egyptian and the non-Arab foreign investors were net buyers seizing 72.77% and 20.24% respectively of the total markets, with a net equity of EGP 266.756 thousand and EGP 15.313 million, excluding the deals.