Local Selling Pressures Drive Egypt Stocks to Lose EGP1 bln at Midday

Egypt’s stock market declined during the midday session of Monday incurring losses of one billion Egyptian pound. The benchmark fell below the level of 5295 pts.

The Egyptian Exchange’s indices were wavering on red notes on Monday noon.

Benchmark EGX30 edged down by 0.28% to 5293.92 p; while EGX20 fell by 0.63% to 6124.13 p.

On the other hand, the mid- and small-cap index, the EGX70 sagged by 1.49% to 422.38 p.  Price index EGX100 dropped 0.99% to 727.87 p.

The capital market has reached EGP 354.060 billion during the midday session of Monday, according to data compiled by Amwal Al Ghad English at 12:31 p.m. Cairo time (10:31 GMT).

Trading Volumes & Values

The trading volume has recorded 61.533 million securities worth EGP 142.285 million, exchanged through 8.674 thousand transactions during Monday midday.

Also during the midday session, 129 listed securities have been traded in; 92 declined, 14 advanced; while 23 steadied.

Local Selling Pressures

Local investors’ selling pressures triggered EGX’s midday losses as they were net sellers seizing 74.82% of the total markets, with a net equity of EGP 10.748 million excluding the deals.

Meanwhile,  the non-Arab foreign and Arab investors were net buyers seizing during midday 20.4% and 4.79% respectively, of the total markets, with a net equity of EGP 4.893 million and EGP 5.855 million, excluding the deals.