Student Protests Drive Egypt Shares to Lose EGP735 mln at Midday
Egyptian stocks have incurred losses of EGP 735 million during the midday session of Monday triggered by the mass rallies erupt in different universities in the country on Sunday. As a result, the benchmark index fell below 6265 points during midday.
Student unions organised protests and rallies at different universities across the country on Sunday, an effort that was in spirit with those at Cairo University.
Egyptian security forces clashed with student demonstrators in central Cairo on Sunday after thousands rallied in anger at the death of a young engineering student.
Mohamed Reda was shot Thursday by riot police after joining anti-regime protests at Cairo University. The young man’s fate has fueled defiance across the nation’s campuses, which since July have been experiencing their most violent period following the 2011 revolution.
The Egyptian Exchange’s indices were backed to the red notes during the midday session.
The Benchmark EGX30 tumbled by 0.07% to 6263.46 p; while EGX20 also went down by 0.27% to 7310.83 p.
Additionally, the mid- and small-cap index, the EGX70 decreased by 0.44% to 519.58 p. Price index EGX100 dropped by 0.32% to 869.79 p.
The capital market has hit EGP 405.727 billion on Monday, according to data compiled by Amwal Al Ghad English at 12:49 p.m. Cairo time (10:49 GMT).
Trading Volumes & Values
The trading volume has recorded 87.603 million securities worth EGP 195.135 million, exchanged through 9650 transactions during Monday midday.
Also during the midday session, 161 listed securities have been traded in; 96 fell, 40 advanced; while 25 keeping their previous levels.
Investors’ Activities
Egyptians and the non-Arab foreigners were net sellers seizing 95.01% and 2.03% respectively of the total markets, with a net equity of EGP 1.910 million and EGP 3.943 million respectively, excluding the deals.
Meanwhile, Arabs were net buyers acquiring 2.95% of the total market, with a net equity of EGP 5.854 million, excluding the deals.
