Egypt’s stock market stumbled Wednesday with $242m losses

Egypt’s stock market ends Wednesday with losses estimated at 1.9 billion Egyptian pounds (US$ 242 million) despite local and Arab buying appetites.

The market capitalisation has recorded 385.311 billion pounds during the closing session of Wednesday.

Indices

Egypt’s benchmark index, EGX30 surged 0.90percent to 5947.7 points.

The EGX50 EWI index went up 0.18 percent to 1093.68 points.

EGX20 increase 0.33 percent to 59252.09 points.

In addition, the mid- and small-cap index EGX70 sagged 0.99 percent to 350.27 points. The price index, EGX100 dropped by 0.11 percent 705.52 points.

Turnovers high

On Wednesday, the bourse’s trading volume hit 215.081  million securities, with turnovers closed at 488.606 million pounds, exchanged through 22,410 thousand transactions.

Also during the closing session, 165 listed securities have been traded in; 72 declined, 48 advanced; while 41 kept their previous levels.

Investors’ Activities

Local and Arab investors were net buyers Wednesday seizing 75.09 percent and 12.82  percent respectively of the total markets, with a net equity of 792.511 million pounds and 44.855 million pounds, respectively, excluding the deals.

On the contrary, the foreign investors were net sellers 12.09 percent of the total market, with a net equity of 45.647 million pounds, excluding the deals.