Egyptian Stocks Open Lower, Lose EGP2.1 billion

Egypt’s stocks opened trading session on Monday lower with losses at value of 2.1 billion Egyptian pounds driven by local and Arab investors’ selling pressures. In addition, the country’s main stock index, EGX30 started trading in red below 8490 points.

Meanwhile, the EGX indices were wavering in red notes during the opening session of Monday, except for the mid- and small-cap index, the EGX70, which remained flat.

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 tumbled by 1% to 8489.5 p, and EGX20 pushed down by 0.99% to 10203.04 p.

In addition, the mid- and small-cap index, the EGX70 remained with no change at 611.11 p.  Price index EGX100 fell by 0.13% to 1080.87 p.

Furthermore, market capitalization reached EGP 489.766 billion, according to data compiled by Amwal Al Ghad English at 11:01 a.m. Cairo time (09:01 GMT).

Trading Volumes & Values

The trading volume has 14.288 million securities worth EGP 47.441 million, exchanged through 2211 transactions during Monday opening.

Also during the opening session, 92 listed securities have been traded in; 55 fell, 9 advanced; while 28 keeping their previous levels.

Investors’ Activities

Egyptian and Arab investors were net sellers seizing at early trade on Monday 80.83% and 9.3% respectively of the total markets, with a net equity of EGP 519.146 thousand and EGP 5.768 million, excluding the deals.

On the other hand, the non-Arab foreign investors were net buyers capturing 9.87% of the total market, with a net equity of EGP 6.287 million, excluding the deals.