Cairo stock market slumps with $676mn losses

Egypt’s stock market declined on Monday with losses worth 5.3 billion Egyptian pounds (US$676.8 million) on non-Arab sell off.

The market capitalisation has recorded 418.630 billion pounds during the closing session of Monday.

Indices

Egypt’s benchmark index, EGX30 dropped by 2.36 percent to 6451.32 points.

The newly-launched EGX50 EWI index went down 1.83 percent to 1113.15 points.

EGX20 declined by 2.29 percent to 6326.02 points.

In addition, the mid- and small-cap index EGX70 decreased by percent 1.80 to 353.5 points. The price index, EGX100 sagged by 1.40 percent 762.48 points.

Turnovers high

On Monday, the bourse’s trading volume hit 384.178 million securities, with turnovers closed at EGP 656.819 million, exchanged through 19,836 thousand transactions.

Also during the closing session,171  listed securities have been traded in;111 declined, 19 advanced; while 35 kept their previous levels.

Investors’ Activities

Local and Arab investors were net buyers on Monday seizing 75.26 percent and 7.23 percent respectively of the total markets, with a net equity of 3.371 million pounds and 51.561 million pounds, respectively, excluding the deals.

On the contrary, the non-Arab investors were net sellers getting 17.51 percent of the total market, with a net equity of 54.933 million pounds, excluding the deals.