Egypt’s Stocks Open Lower amid Arab Profit-takers

Egypt’s stocks opened lower on Tuesday incurring losses worth 2.2 billion Egyptian pounds driven by Arab investors’ profit-taking. In addition, main stock index, EGX30 dropped below 8520 points.

Meanwhile, the EGX indices were wavering in red notes during the opening session of Tuesday.

Indices

The Benchmark EGX30 inched down by 0.87% to 8518.93 p, and EGX20 retreated by 0.93% to 10317.89 p.

In addition, the mid- and small-cap index, the EGX70 fell by 0.37% to 601.89 p.  Price index EGX100 also went down by 0.14% to 1054.74 p.

Furthermore, market capitalization reached EGP 487.647 billion, according to data compiled by Amwal Al Ghad English at 11:08 a.m. Cairo time (08:08 GMT as Egypt turned to Daylight saving time).

Trading Volumes & Values

The trading volume has recorded 27.100 million securities worth EGP 64.659 million, exchanged through 2414 transactions during Tuesday opening.

Also during the opening session, 86 listed securities have been traded in; 47 fell, 8 advanced; while 31 keeping their previous levels.

Investors’ Activities

Arab investors were net sellers at early trade on Tuesday seizing 5.21% of the total market, with a net equity of EGP 6.174 million, excluding the deals.

On the other hand, Egyptian and the non-Arab foreign Arab investors remained net buyers capturing 92.7% and 2.09% respectively of the total markets, with a net equity of EGP 4.494 million and EGP 1.680 million respectively, excluding the deals.