Egypt’s stock market starts week with $804 million in losses

Egypt’s stock market has concluded Sunday trade with losses estimated worth 6.3 billion Egyptian pounds (US$804 million) driven by foreign selling pressures.

The market capitalisation has recorded 422.660 billion pounds.

Indices

Egypt’s benchmark index, EGX30 sank 2.03 percent to 6782.35 points.

EGX50 EWI index pushed down 1.46 percent to 1177.44 points.

EGX20 plunged 2.18 percent to 6770.36 points.

In addition, the mid- and small-cap index EGX70 dropped 0.97 percent to 381.05. The price index, EGX100 plummeted 1.43 percent 776.74 points.

Turnovers remain low

On Sunday, the bourse’s trading volume hit 186.139 million securities, with turnovers closed at 501.158 million pounds, exchanged through 20,782 transactions.

Also during the closing session,165 listed securities have been traded in; 102 declined, 27 advanced; while 33 kept their previous levels.

Investors’ Activities

Arab and foreign investors were net sellers Sunday, seizing 2.44 percent and 3.05 percent respectively of the total markets, with a net equity of 3.828 million pounds and 8.794 million pounds, respectively, excluding the deals.

On the contrary, local investors were net buyers seizing 94.51 percent of the total market, with a net equity of 12.623 million pounds, excluding the deals.