Profit Takers Depress Egypt Stocks with EGP1.4bn Loss at Open

Driven by profit-taking transactions, Egyptian stocks opened this week lower incurring losses, amounting to EGP 1.4 billion. The benchmark index starts trading early Sunday below 7105 points.

The Egyptian Exchange indices were wavering in red notes during early trading session of Sunday.

The Benchmark EGX30 dropped by 0.55% to 7104.08 p; EGX20 also fell by 0.64% to 8342.64 p.

Additionally, the mid- and small-cap index, the EGX70 inched down by 0.65% to 560.65 p.  Price index EGX100 decreased by 0.59% to 953.26 p.

The capital market has opened Sunday’s sessions at EGP 442.087 billion, according to data compiled by Amwal Al Ghad English at 11:16 a.m. Cairo time (09:16 GMT).

Trading Volumes & Values

The trading volume has recorded 58.693 million securities worth EGP 96.838 million, exchanged through 4151 transactions during Sunday opening.

Also during the opening session, 116 listed securities have been traded in; 95 fell, 12 advanced; while 9 keeping their previous levels.

Investors’ Activities

Egyptians and the non-Arab foreigners were net sellers seizing 92.14% and 2.74% respectively of the total markets, with a net equity of 2.878 million and 3.905 million respectively, excluding the deals.

On the contrary, Arabs were net buyers acquiring 5.12% of the total market, with a net equity of EGP 6.784 million, excluding the deals.