Egypt’s Benchmark Opens 1.3% Lower As June 30 Protests Dig In

The Egyptian market has opened Monday’s sessions with losses for the second day in a row for this week of EGP 3.2 billion as the investors are on full alert to the calls for the June 30th protests that seek to topple the country’s president Mohamed Morsi.

The Egyptian Exchange’s indices were wavering in dark red notes by opening session of Monday. The indices hit 4-month low on Sunday.

Benchmark EGX30 inched down by 1.36% to 4849.27 p. EGX20 also sank by 1.88% to 5389.33 p.

On the other hand, the mid- and small-cap index, the EGX70 sagged by 1.67% to 384.63 p.  Price index EGX100 plummeted  by 1.28% to 668.19 p.

The capital market has amounted to EGP 330.834 billion, according to data compiled by Amwal Al Ghad English at 11:24 a.m. Cairo time (09:24 GMT) during the opening session of Monday.

Trading Volumes & Values:

The trading volume has recorded 10.756 million securities worth EGP 34.521 million, exchanged through 2302 transactions during Sunday’s midday.

Also during the opening session, 115 listed securities have been traded in; 82 declined, 4 advanced; while 29 steadied.

Investors’ Activities:

The local and Arabs’ selling pressures have driven EGX’s opening losses as they were net sellers seizing 61.05% and 11.68% respectively, of the total markets, with a net equity of EGP 286.374 thousand and EGP 711.813 thousand, excluding the deals.

Meanwhile, the non-Arab foreigners were net buyers seizing 27.27% of the total markets, with a net equity of EGP 998.186 thousand excluding the deals.