Egypt’s EGX30 Falls Below 4670 Pts On Opening Local, Arab Sellers

Egypt’s stock market has opened Wednesday’s session incurring losses of EGP 887 million driven by local and Arab early selling pressures.

The Egyptian Exchange’s indices were wavering in red notes early Wednesday.

Benchmark EGX30 edged down by 0.85% to 4669.18 p; while EGX20 dropped by 0.97% to 5126.84 p.

On the other hand, the mid- and small-cap index, the EGX70 tumbled by 0.43% to 356.42 p.  Price index EGX100 also fell by 0.42% to 629.37 p.

The capital market has reached EGP 316.625 billion during the opening session of Wednesday, according to data compiled by Amwal Al Ghad English at 11:15 a.m. Cairo time (09:15 GMT).

Trading Volumes & Values

The trading volume has recorded 4.716 million securities worth EGP 13.840 million, exchanged through 853 transactions during Wednesday opening.

Also during the opening session, 69 listed securities have been traded in; 37 declined, 3 advanced; while 29 steadied.

Investors’ Activities

Egyptians and Arabs’ selling pressures have triggered EGX’s opening losses as they were net sellers seizing 55.19% and 7.37% respectively, of the total markets, with a net equity of EGP 1.638 million and EGP 133.667 thousand, excluding the deals.

Meanwhile,  the non-Arab foreigners were net buyers seizing 37.44% of the total markets, with a net equity of EGP 1.772 million excluding the deals.