Egypt’s stocks end week in red, benchmark EGX 30 edges down 1.10%
The EGX 70 EWI index of the leading smaller and mid cap enterprises (SME) tumbled 1.01 percent to 2,059 points, while the fixed-weighted index, EGX 30 Capped fell 0.78 percent to 12,704 points. The all-embracing index, EGX 100 dropped 0.98 percent to 2,974 points. Meanwhile, the equal weights index, EGX 50 went down 1.12 percent to 2,043 points.
Trading on April 29, and May 2 and 3 will off.
Egyptian government announced earlier that Thursday, April 29 will be an official holiday in celebration of the 39th anniversary of Sinai Liberation Day.
According to the Cabinet announcement, Next Saturday, 1 May, will be a fully-paid day-off for employees at public and private sectors to commemorate the Labour Day, while Sunday and Monday, 2 and 3 May will be off in celebration of the Coptic Easter and Sham El-Nessim.
The country’s market capitalisation has on Wednesday incurred losses worth 4.3 billion Egyptian pounds ($273.5 million), ending the trading at 650.713 billion pounds driven by local and foreign investors’ selloff.
Trading value has approximately reached around 1.2 billion pounds, while the trading volume has almost recorded 322.284 million securities executed 32,221 transactions.