Shares in Egypt Slump at Close amid Foreign Sell-offs

Egypt’s shares tumbled at close on Wednesday, incurring losses worth 2 billion Egyptian pounds driven by foreign selloffs. The main stock index, EGX30 paired early gains to retreat below 8335 points.

Meanwhile, the EGX indices were wavering in red notes.

Indices

Egypt’s benchmark index EGX30 ended 0.45 per cent lower to 8333.1 pts; while EGX20 finished 0.50 per cent down to 9938.29 pts.     
In addition, the mid- and small-cap index, the EGX70 slumped by 0.84 per cent to end at 610.3 pts. The price index EGX100 sagged by 0.87 per cent to conclude at 1065.81 pts.  
Furthermore, the market capitalization recorded EGP 483.279 billion on Wednesday.

Turnovers above EGP1 bln
Through the closing session of Wednesday, the trading volume has reached 265.790 million securities, with turnovers worth EGP 1.1 billion, exchanged through 30.840 thousand transactions.               
Also during the closing session, 178 listed securities have been traded in; 118 declined, 38 advanced; while 22 keeping their previous levels.

Investors’ Activities

The non-Arab foreign investors and Arab investors were net sellers on Wednesday seizing 28.45% and 4.05% respectively of the total markets, with a net equity of EGP 81.904 million and EGP 23.853 million respectively, excluding the deals.

On the other hand, Egyptian investors were net buyers capturing 67.5% of the total market, with a net equity of EGP 105.757 million, excluding the deals.