Egypt’s stocks switch Wednesday back into bearish mode

Egypt’s stock market concluded Wednesday with losses of 1.4  billion  Egyptian pounds ($157.7 million) on Egyptian and Arab investors’ selloffs.

Cairo’s main index, EGX30 dropped 0.29  percent, to 7863.58 points.

EGX50 EWI index inched down 1.11 percent, to 1459.24 points; EGX20 also tumbled 0.88 percent, to 8017.52 points.

Mid- and small-cap index EGX70 declined 1.30 percent, to 372.66 points. Price index, EGX100 went down by 1.46 percent to 789.09  points.

Market Caps

Market capitalisation has recorded at 414.754  billion pounds during the closing session of Wednesday.

Turnovers

On Wednesday, the bourse’s trading volume hit 297.850 million securities, with turnovers closed at 1.057 billion pounds, exchanged through 25,350 transactions.

Also during the closing session, 176 listed securities have been traded in 120 declined, 25 advanced; while 29 kept their previous levels.

Investors’ Activities

Egypt and Arab investors were net  sellers controlling 76.81 percent and  7.76 percent respectively of the total markets, with a net equity of 100.165 million pounds and 1.650 million pounds, respectively, excluding the deals.

On the contrary, non-Arab investors were net buyer capturing16.07 percent of the total market, with a net equity of 101.815 million pounds, excluding the deals