Egyptian Stocks Open Mostly Lower, EGX30 Falls 0.4%

Egypt’s stocks started trading mostly lower on Monday with losses amounting to 1.21 billion Egyptian pounds driven by Arab and non-Arab foreign investors’ selling pressures. The country’s main stock index, EGX30 went through a correction phase, opening below 9460 points.

The Egyptian Exchange (EGX)’s indices were wavering in red notes during the opening session of Monday, the mid- and small-cap index, the EGX70 solely rose.

Indices

The Benchmark EGX30 tumbled by 0.40% to 9457.39 p, and EGX20 went down by 0.54% to 11380.15 p.

In addition, the mid- and small-cap index, the EGX70 increased by 0.23% to 661.6 p.  Price index EGX100 dropped by 0.31% to 1174.77 p.

Furthermore, market capitalization reached EGP 522.628 billion, according to data compiled by Amwal Al Ghad English at 11:24 a.m. Cairo time (09:24 GMT).

Trading Volumes & Values

The trading volume has reached 31.345 million securities worth EGP 697.791 million, exchanged through 5941 transactions during Monday opening.

Also during the opening session, 131 listed securities have been traded in; 81 fell, 28 advanced; while 21 keeping their previous levels.

Investors’ Activities

Arab and the non-Arab foreign investors were net sellers at early trade seizing 0.79% and 2.1% respectively of the total markets, with a net equity of EGP 1.486 million and EGP 7.810 million, excluding the deals.

On the other hand, local investors were net buyers acquiring 97.11% of the total market, with a net equity of EGP 9.297 million, excluding the deals.