Egypt’s Main Gauge Opens This Week Below 4610 Pts

Egypt’s stock market has opened this week incurring losses of EGP 1.46 billion driven by early local and Arab selling pressures.

The Egyptian Exchange’s indices were wavering in red notes by Sunday morning.

Benchmark EGX30 inched down by 0.44% to 4605.68 p; while EGX20 fell by 0.31% to 5052.96 p.

On the other hand, the mid- and small-cap index, the EGX70 dipped by 0.33% to 353.37 p.  Price index EGX100 also went down by 0.29% to 623.63 p.

The capital market has reached EGP 314.739 billion during the opening session of Sunday, according to data compiled by Amwal Al Ghad English at 11:20 a.m. Cairo time (09:20 GMT).

Trading Volumes & Values

The trading volume has recorded 7.131 million securities worth EGP 8.307 million, exchanged through 742 transactions during Sunday opening.

Also during the opening session, 66 listed securities have been traded in; 25 declined, 8 advanced; while 33 steadied.

Investors’ Activities

Egyptians and Arabs’ selling pressures have triggered EGX’s opening  losses as they were net sellers seizing 79.2% and 3.91% respectively, of the total markets, with a net equity of EGP 99.270 thousand and EGP 288.723 thousand, excluding the deals.

Meanwhile,  the non-Arab foreigners were net buyers seizing 16.88% of the total markets, with a net equity of EGP 387.993 thousand excluding the deals.