Yemen Conflict hits Egypt Stocks ending week with EGP3.7 billion Losses

The stock market ended this week lower in Egypt with losses worth 3.7 billion Egyptian pounds (US$491.56 million) after Saudi Arabia launched strikes on key military installations in Yemen.

The market capitalization recorded EGP 499.901 billion on Thursday.

Indices:

The main stock index, EGX30 edged lower by 1.59 percent to close at 9052.5 points. EGX20 plunged by 1.98 percent to 9667.93 points.

In addition, the mid- and small-cap index EGX70 pushed down by 1.34 percent to 502.07 points. The price index, EGX100 retreated by 1.39 percent to 1028.08 points.

Humble Turnovers
On Thursday, the trading volume has reached 140.768 million securities, with turnovers closed at EGP 531.543 million, exchanged through 22.018 thousand transactions.

Also during the closing session, 180 listed securities have been traded in; 126 declined, 26 advanced; while 28 kept their previous levels.

Yemeni Worries

In Yemen, Saudi Arabia launched air strikes, along with others, to oust Shiite rebels that forced the country’s embattled president to flee. Some of the strikes hit positions in the country’s capital, Sanaa, and flattened a number of homes near the international airport.

Investors’ Activities

The non-Arab foreign investors were net sellers on Thursday seizing 21.33% of the total market, with a net equity of EGP 16.518 million, excluding the deals.

On the other hand, local investors and Arab investors were net buyers capturing 74.53% and 4.14% respectively of the total markets, with a net equity of EGP 14.906 million and EGP 1.612 million, respectively, excluding the deals.