Egyptian stocks drop Monday with $303mn losses

Egyptian stock market concluded Monday with losses estimated at 2.7 billion Egyptian pounds (US$ 303 million) on local and Arab selling off.

The market capitalisation reached 400.312 billion pounds during the closing session of Monday.

Indices

Egypt’s benchmark index, EGX30 dropped by 0.83 percent to 7342.46 points.

The newly-launched EGX50 EWI index went down by 0.35 percent to 1404.04 points.

EGX20 sagged by 01.89 percent to 7685.19 points.

In addition, the mid- and small-cap index EGX70 decreased by percent 0.41 % to 361.23 points. The price index, EGX100 decreased by 0.41 percent 772.8 points.

Turnovers  down

On  Monday, the bourse’s trading volume has hit 202.799  million securities, with turnovers closed at EGP 609.840 million, exchanged through 23,073 thousand transactions.

Also during the closing session, 180 listed securities have been traded in; 96 declined, 39 advanced; while 44 kept their previous levels.

Investors’ Activities

Local and Arab investors were net sellers on Monday seizing 74.39 % and  8.75 % respectively of the total markets, with a net equity of  86.339  million  pounds and 2.537  million pounds, respectively, excluding the deals.

On the contrary, the Arab foreign investors were net  buyers getting 16.88 % of the total market, with a net equity of EGP 88.77  million excluding the deals