Shares in Egypt Fall at Midday, EGX 30 Retreats to 6690

Egyptian stocks have moved lower during the midday session of Wednesday incurring losses of EGP 621 million driven by the local and non-Arab foreign selling pressures. The main gauge slumped to hit below 6700 points Wednesday noon.

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

The Benchmark EGX30 inched down by 0.45% to 6690.11 p; while EGX20 also fell by 0.34% to 7763.22 p.

Additionally, the mid- and small-cap index, the EGX70 dipped by 0.15% to 534.75 p.  Price index EGX100 sagged by 0.18% to 907.62 p.

The capital market has hit on Wednesday EGP 421.345 billion, according to data compiled by Amwal Al Ghad English at 12:34 p.m. Cairo time (10:34 GMT).

Trading Volumes & Values

The trading volume has recorded 95.036 million securities worth EGP 163.688 million, exchanged through 7865 transactions during Wednesday midday.

Also during the midday session, 152 listed securities have been traded in; 80 fell, 35 advanced; while 37 keeping their previous levels.

Investors’ Activities

Egyptians and the non-Arab foreigners were net sellers triggering  EGX’s midday losses as they seized 92.25% and 4.19% respectively of the total markets, with a net equity of EGP 9.735 million and EGP 2.271 million respectively, excluding the deals.

On the contrary, Arabs were net buyers acquiring 3.56% of the total market, with a net equity of EGP 12.007 million, excluding the deals.