Tension Heighten in Egypt, Stocks Loss EGP11 bln at Closing

Egypt’s stock market lost EGP 10.8 billion on Monday affected by the 42 deaths reported in violence in the Republican Guard headquarters in Cairo on the same day earlier. The Egyptian benchmark dives 3.5% amid concerns over growing tensions in the country to erupt following the Muslim Brotherhood’s call to the people to rise up to restore their revolution.

Egyptian state television said the death toll in an attempt to storm the Republican Guard headquarters had risen to 42. It said an additional 322 people had been wounded, according to Dr. Mohamed Sultan – the Head of the Egyptian Ambulance Organization (EAO).

Egypt’s interim administration expressed “deep regret” for those killed in violence in Cairo on Monday, announcing that it had formed a judicial committee to investigate the events.

For the Egyptian Exchange’s indices, they were wavering in dark red notes during the closing session of Monday.

Egypt’s benchmark index EGX30 dived by 3.55% to close at 5123.06 p; while the EGX20, it plummeted by 3.69% to end 5822.81 p.

Meanwhile, the mid- and small-cap index, the EGX70 sank by 5.32% to conclude at 402.12 p.  The price index EGX100 also inched down by 4.01% to finish at 700.49 p.

The capital market has closed at EGP 343.280 billion by Monday afternoon.

Investors’ Activities

Driven by growing unrest worries, Arabs and the non-Arab foreigners investors were net sellers seizing 4.78% and 22.65% respectively, of the total markets, with a net equity of EGP 11.771 million and EGP 30.148 million, excluding the deals.

Meanwhile,  Egyptian investors were net buyers seizing 75.57% of the total markets, with a net equity of EGP 41.920 million excluding the deals.

Traded Volumes & Trades

Through the closing session of Monday, the trading volume has reached 150.800 million securities. For the traded value, it hit EGP 414.574 million, exchanged through 24.029 thousand transactions.

Also during the closing session, 171 listed securities have been traded in; 143 declined, 13 advanced; while 15 keeping their previous levels.