Egypt Benchmark Closes below 5300 Pts Ahead of Islamists’ Mass Rally

Driven by foreign selling pressures, Egypt’s stock market has closed lower by the end of this week encountering losses of EGP 2.5 billion. The benchmark has ended this week below 5300 level.

The Egyptian Exchange’s indices were wavering in red notes during the closing session of Thursday.

Egypt’s benchmark index EGX30 inched down by 0.91% to close at 5276.73 p; while the EGX20, it plummeted by 1.04% to end 6126.68 p.

Meanwhile, the mid- and small-cap index, the EGX70 fell by 1.33% to conclude at 429.47 p.  The price index EGX100 also dropped by 1.05% to finish at 734.38 p.

The capital market has closed at EGP 354.060 billion on Thursday.

Investors’ Activities

Arabs and the non-Arab foreigners investors’ selling pressures have triggered EGX’s losses as they were net sellers seizing 4.68% and 11.89% respectively, of the total markets, with a net equity of EGP 4.334 million and EGP 35.166 million, excluding the deals.

Meanwhile,  Egyptian investors remained net buyers seizing 83.43% of the total markets, with a net equity of EGP 30.832 million excluding the deals.

Traded Volumes & Trades

Through the closing session of Thursday, the trading volume has reached 100.524 million securities. For the traded value, it hit EGP 299.300 million, exchanged through 17.854 thousand transactions.

Also during the closing session, 171 listed securities have been traded in; 104 declined, 36 advanced; while 31 keeping their previous levels.