Shares in Egypt Open This Week Lower on Corrective Movement

Egyptian stocks have started this week lower incurring losses of EGP 354 million on the non-Arab selling pressures. The benchmark index slightly fell below 6405 points on Sunday triggered by corrective movements.

The Egyptian Exchange’s indices were wavering on red notes during Sunday opening.

The Benchmark EGX30 slumped by 0.08% to 6404.14 p; while EGX20 fell by 0.35% to 7463.01 p.

Meanwhile, the mid- and small-cap index, the EGX70 decreased by 0.38% to 537.56 p.  Price index EGX100 dipped by 0.33% to 895.74 p.

The capital market has reached EGP 416,853 billion on Sunday, according to data compiled by Amwal Al Ghad English at 11:08 a.m. Cairo time (09:08 GMT).

Trading Volumes & Values

The trading volume has recorded 17,754 million securities worth EGP 66,688 million, exchanged through 2560 transactions during Sunday opening.

Also during the opening session, 109 listed securities have been traded in; 48 fell, 31 advanced; while 30 keeping their previous levels.

Investors’ Activities

The non-Arab foreigners were net sellers triggering EGX’s early losses as they seized 2.13% of the total market, with a net equity of EGP 737,498 thousand, excluding the deals.

Meanwhile, Egyptians and Arabs were net buyers acquiring  92.37% and 5.5% respectively of the total markets, with a net equity of EGP 696,694 thousand and EGP 40,804  thousand respectively, excluding the deals.