Cairo stock market tumbled on Tuesday, with $830mn losses

Egypt’s stock market slide Tuesday with losses 6.5 billion Egyptian pounds (US$830 million) on Arab and Non-Arab sell offs.

The market capitalisation has recorded 421.316 billion pounds during the closing session of Tuesday.

Indices

Egypt’s benchmark index, EGX30 dived 2.51 percent to 6608.01 points.

EGX50 EWI index pushed down 2.40 percent to 1128.17 points.

EGX20 declined 2.72 percent to 6543.22 points.

In addition, the mid- and small-cap index EGX70 decreased 2.25 percent to 360.53 points. The price index, EGX100 plummeted 1.91 percent to 761.74 points.

Turnovers low

On Tuesday, the bourse’s trading volume hit 252.415 million securities, with turnovers closed at 581.492 million pounds, exchanged through 18,426  thousand transactions.

Also during the closing session,161 listed securities have been traded in; 116 declined,15 advanced; while 25 kept their previous levels.

Investors’ Activities

Arab and foreign investors were net sellers on Tuesday getting 7.34 percent and 10.57 percent respectively of the total markets, with a net equity of 48.961 million pounds and 4.314 million pounds, respectively, excluding the deals.

On the contrary, the Egyptian investors were net sellers seizing 82.09 percent of the total market, with a net equity of 44.647 million pounds, excluding the deals.