Egypt’s stock exchange incurs losses in May, EGX 30 tumbles 3.16%

Egypt’s stock exchange (EGX) incurred in May substantial losses with its main index EGX 30 making a monthly fall of more than 3 percent due to the investors and traders’ fears of coronavirus pandemic.

The benchmark EGX 30 index tumbled 3.16 percent to 10,220.14 points at the end of May. The broad ranged EGX 100 EWI index also inched down 6.14 percent to 1,872 points.

The fixed-weighted index EGX 30 Capped dropped 3.92 percent to close at 11,780.19 points.

Market Cap

Pandemic fears have wiped out 22.7 billion Egyptian pounds ($1.4 billion) from the Egyptian stock exchange’s market capitalisation through May.

Trading volumes and values

Also in May, the trading value hit around 53.7 billion pounds, compared with 64.9 billion pounds a month earlier. For the trading volume, it reached around 5.167 million securities from 6.569 million securities a week earlier.

Foreign and Arab investors were net sellers throughout May on Egyptian stock exchange, capturing 25.9 percent and 7.4 percent of the total market respectively, with a net equity of 882.2 million pounds and 129.1 million pounds, excluding the deals.