Shares Lose EGP468 mln, EGX 30 Solely Up at Open

Egypt’s shares opened lower on Wednesday incurring losses of EGP 468 million battered by Arab selling pressures.

The benchmark index solely rose to cross 5680 pts at opening.

The Egyptian Exchange’s indices were wavering in red notes this morning, except for the main gauge.

The Benchmark EGX30 edged up by 0.06% to 5681.27 p; while EGX20 fell by 0.04% to 6646.28 p.

On the other hand, the mid- and small-cap index, the EGX70 slumped by 0.35% to 492.89 p.  Price index EGX100 dipped by 0.27% to 820.69 p.

The capital market has opened at EGP 379.669 billion on Wednesday according to data compiled by Amwal Al Ghad English at 11:01 a.m. Cairo time (09:01 GMT).

Trading Volumes & Values

The trading volume has recorded 4.576 million securities worth EGP 19.311 million, exchanged through 1454 transactions during Wednesday opening.

Also during the opening session, 75 listed securities have been traded in; 20 fell, 29 advanced; while 26 keeping their previous levels.

Investors’ Activities

Arabs were net sellers driving EGX’s early losses for they seized 1.33%, of the total markets, with a net equity of EGP 414.112 thousand excluding the deals.

Meanwhile, Egyptians and the non-Arab foreigners were net buyers acquiring 95.66% and 3.01% respectively of the total markets, with a net equity of EGP 114.261 thousand and EGP 299.851 thousand respectively, excluding the deals.