Profit-taking pulled Egypt stocks lower on Tuesday

Egypt’s stock market fell once again on Tuesday pulled by profit-taking on big gains achieved across this month.

Main index EGX 30 dropped 0.91 percent, to 11159.32 points, as profit-taking resumed after its 37 percent jump in the weeks that followed the central bank’s November 3rd decision to float the Egyptian pound.

Other indices; EGX50 EWI index rose 0.43 percent, to 1797.93 points; EGX20 tumbled 0.93 percent, to 10954.43 points.

Mid- and small-cap index EGX70 dipped 0.03 percent, to 446.85 points. Price index, EGX100 fell 0.06 percent, to 1058.4 points.

Market Cap

Market capitalisation incurred losses worth 3.36 billion Egyptian pounds (around $186 million), to record 554.072 billion pounds during the closing session of Tuesday.

Turnovers

The bourse’s trading volume reached 372.490 million securities, with turnovers, closing at 1.604 billion pounds, exchanged through 36,430 transactions.

Also during the closing session, 188 listed securities have been traded in, 78 declined, 70 advanced; while 28 kept their previous levels.

Investors’ Activities

Local investors were net sellers capturing 80.31 percent of the total market, with a net equity of 68.745 million pounds, excluding the deals.

On the contrary, non-Arab foreign and Arab investors remained net buyers controlling 10.55 and 9.14 percent respectively of the total markets, with a net equity of 36.265 million pounds and 32.480 million pounds, respectively, excluding the deals.