On Students’ Rallies, Egypt Shares End Lower on Monday

Egyptian stocks have ended lower encountering losses totaled EGP 465 million on Monday following the mass rallies erupted Sunday in the country’s different universities. Accordingly,  the benchmark index has closed below 6250 points on Monday.

Student unions organised protests and rallies at different universities across the country on Sunday, an effort that was in spirit with those at Cairo University.

Egyptian security forces clashed with student demonstrators in central Cairo on Sunday after thousands rallied in anger at the death of a young engineering student.

Mohamed Reda was shot Thursday by riot police after joining anti-regime protests at Cairo University. The young man’s fate has fueled defiance across the nation’s campuses, which since July have been experiencing their most violent period following the 2011 revolution.

The Egyptian Exchange indices were wavering in red notes on Monday afternoon.

Egypt’s benchmark index EGX30 ended 0.31 per cent lower to 6248.49 pts, and EGX20 also finished 0.40 per cent down to 7300.98 pts.    
Meanwhile, the mid- and small-cap index, the EGX70 fell by 0.40 per cent to conclude at 519.78 pts. The price index EGX100 dipped by 0.33 per cent to close at 869.7 pts.  
The capital market has closed at EGP 405.997 billion on Monday afternoon.

Through the closing session of Monday, the trading volume has reached 148.836 million securities. For the traded value, it hit EGP 353.486 million, exchanged through 18.718 thousand transactions.         

Also during the closing session, 179 listed securities have been traded in; 123 declined, 34 advanced; while 22 keeping their previous levels.

Investors’ Activities

Egyptians and the non-Arab foreigners were net sellers seizing 92.01% and 3.66% respectively of the total markets, with a net equity of EGP 2.573 million and EGP 1.157 million respectively, excluding the deals.

Meanwhile, Arabs were net buyers acquiring 4.33% of the total market, with a net equity of EGP 3.730 million, excluding the deals.