Foreign Selling Pressures Drags EGX 30 Below 5240 Pts; Opening

The Egyptian Exchange (EGX) has opened Monday’s session incurring losses of EGP 2.2 billion driven by early foreign selling pressures.

The capital market has amounted to EGP 358.381 billion, according to data compiled by Amwal Al Ghad English at 11:01 a.m. Cairo time (09:01 GMT) during Monday’s opening  session.

The EGX indices opened in red notes.

Benchmark EGX30 inched down by 0.36% to 5235.02 p; while EGX20 sank by 1.33% to 6083.14 p.

Meanwhile, the mid- and small-cap index, the EGX70 edged down by 0.02% to 452.76 p.  Price index EGX100 fell by 0.14% to 748.82 p.

During Monday’s opening session, the trading volume has reached 3.562 million securities worth EGP 12.819 million, exchanged through 736 transactions.

This was after trading in 65 listed securities; 34 declined, 5 advanced; while 26 keeping their previous levels.

Arabs and the non-Arab foreigners’ selling pressures have driven EGX’s opening losses as they were net sellers seizing 10.92% and 14.66% respectively, of the total markets, with a net equity of EGP 1.854 million and EGP 254.987 thousand, excluding the deals.

Meanwhile, Egyptians were net buyers seizing 74.41% of the total markets, with a net equity of EGP 2.109 million excluding the deals.