Egyptian Stocks start Week bearish, EGX30 plunges 3.2%

Egypt’s stock market shares pushed lower on Sunday incurring losses worth 6.5 billion Egyptian pounds (US$851.8 million) amid heavy local selloffs. The main index, EGX30 retreated below 8610 points.

The market capitalization has reached 502.764 billion pounds on Sunday.

Indices:

Egypt’s benchmark index, EGX30 sank by 3.19 percent to close at 8607.66 points. EGX20 edged down by 2.98 percent to 9250.15 points.

In addition, the mid- and small-cap index EGX70 dived by 3.15 percent to 489.93 points. The price index, EGX100 also plummeted by 2.78 percent to 997.22 points.

Turnovers Humble
On Sunday, the bourse’s trading volume has hit 114.917 million securities, with turnovers closed at EGP 483.028 million, exchanged through 18.577 thousand transactions.

Also during the closing session, 172 listed securities have been traded in; 139 declined, 10 advanced; while 21 kept their previous levels.

Investors’ Activities

Local investors were net sellers on Sunday seizing 86.36% of the total market, with a net equity of EGP 45.121 million, excluding the deals.

On the other hand, the non-Arab foreign and Arab investors were net buyers capturing 8.73% and 4.91% respectively of the total markets, with a net equity of EGP 26.423 million and EGP 18.697 million, respectively, excluding the deals.