Egyptian Stocks start new Week with $419 million Losses

Egypt’s stocks start a new week of trading lower with losses worth 3.2 billion Egyptian pounds (US$419.3 million) on foreign investors’ selloff.

The market capitalisation has reached 486.213 billion pounds during the closing session of Sunday.

Indices

Egypt’s benchmark index, EGX30 inched down by 1.07 percent to 8534.13 points. EGX20 also dropped by 1.43 percent to 8664.45 points.

In addition, the mid- and small-cap index EGX70 fell by 0.38 percent to 446.75 points.

The price index, EGX100 slipped by 0.57 percent to 945.88 points.

Turnovers remain humble

On Sunday, the bourse’s trading volume has reached 92.405 million securities, with turnovers closed at EGP 357.712 million, exchanged through 12.271 thousand transactions.

Also during the closing session, 169 listed securities have been traded in; 88 declined, 33 advanced; while 43 kept their previous levels.

Investors’ Activities

Arab and non-Arab investors were net sellers on Sunday seizing 2.19% and 8.95% respectively of the total markets, with a net equity of EGP 251.532 thousand and EGP 2.197 million, respectively, excluding the deals.

On the contrary, local investors were net buyers acquiring 88.85% of the total market, with a net equity of EGP 2.449 million, excluding the deals.