Egyptian stocks tumble 1.2% as foreign investors sell

Egyptian stocks closed lower on Wednesday weighed by foreign selling pressures; main index, EGX30 plunged 1.23 percent, to 7503.36 points.

Other indices; EGX50 EWI index also edged down 1.52 percent, at 1332.58 points; while EGX20 sank 2.06 percent, to 7817.37 points.

Mid- and small-cap index EGX70 dropped 0.43 percent, to 358.07 points. Price index, EGX100 declined 0.58 percent, to 763.99 points.

Market Cap

Market capitalisation lost 4.01 billion Egyptian pounds ($451.45 million), to record 401.433 billion pounds during the closing session of Wednesday.

Turnovers

The bourse’s trading volume reached 186.746 million securities, with turnovers, closing at 626.923 million pounds, exchanged through 18,538 transactions.

Also during the closing session, 165 listed securities have been traded in, 105 declined, 26 advanced; while 32 kept their previous levels.

Investors’ Activities

Arab and non-Arab investors were net sellers controlling 3.96 and 11.32 percent respectively of the total markets, with a net equity of 3.702 million pounds and 8.702 million pounds, respectively, excluding the deals.

On the contrary, local foreign investors were net buyers capturing 84.72 percent of the total market, with a net equity of 12.405 million pounds, excluding the deals.