On Foreign Selling Pressures, Egypt Shares Lose EGP3.8 bln at Midday

Egyptian stocks incurred losses of EGP 3.8 billion during the midday session of Wednesday driven by foreign selling pressures. The benchmark index fell further below 6250 points.

The Egyptian Exchange’s indices were wavering on red notes during Wednesday midday.

The Benchmark EGX30 inched down by 1.40% to 6246.42 p; while EGX20 tumbled by 1.45% to 7276.04 p.

Meanwhile, the mid- and small-cap index, the EGX70 dropped by 1.23% to 526.03 p.  Price index EGX100 decreased by 1.18% to 877.28 p.

The capital market has reached EGP 406.649 billion on Wednesday, according to data compiled by Amwal Al Ghad English at 12:20 p.m. Cairo time (10:20 GMT).

Trading Volumes & Values

The trading volume has recorded 88.139 million securities worth EGP 187.165 million, exchanged through 8887 transactions during Wednesday midday.

Also during the midday session, 163 listed securities have been traded in; 131 fell, 14 advanced; while 18 keeping their previous levels.

Investors’ Activities

The non-Arab foreigners and Arabs were net sellers triggering EGX’s midday losses for they acquired 15.4% and 8.24% respectively of the total markets, with a net equity of EGP 9.009 million and EGP 779.993 thousand respectively, excluding the deals.

Meanwhile, Egyptians were net buyers seizing 76.36% of the total market, with a net equity of EGP 9.789 million thousand, excluding the deals.