Foreign Net Sellers Drag Egypt’s EGX 30 to Fall below 5250 at Open

Egypt’s stocks opened lower on Monday incurring losses of EGP 1.8 billion driven by early non-Arab foreign selling pressures. Accordingly, the benchmark retreated below 5250 pts.

The Egyptian Exchange’s indices were wavering in red notes during the opening session of Monday.

Benchmark EGX30 inched down by 1.05% to 5245.21 p; while EGX20 fell by 0.93% to 6105.21 p.

On the other hand, the mid- and small-cap index, the EGX70 decreased by 0.26% to 444.84 p.  Price index EGX100 tumbled by 0.45% to 749.82 p.

The capital market has reached EGP 354.326 billion during the opening session of Monday, according to data compiled by Amwal Al Ghad English at 11:15 a.m. Cairo time (09:15 GMT).

Trading Volumes & Values

The trading volume has recorded 4.128 million securities worth EGP 19.149 million, exchanged through 1145 transactions during Monday opening.

Also during the opening session, 88 listed securities have been traded in; 50 fell, 4 advanced; while 34 keeping their previous levels.

Investors’ Activity

The non-Arab foreigners’ selling pressures have dragged EGX’s early losses as they were net sellers seizing 3.16% of the total market, with a net equity of EGP 502.577 thousand, excluding the deals.

Meanwhile, Egyptians and Arabs were net buyers seizing 93.68% and 3.16% respectively, of the total market, with net equities of 180.929 thousand and EGP 321.648 thousand, excluding the deals.