The Egyptian Exchange has opened the new month posting losses of EGP 771 million driven by local and non-Arab foreign selling pressures amid the current political and economic turbulence. The capital market has amounted to EGP 373.429 billion, according to data compiled by Amwal Al Ghad at 11:05 a.m. Cairo time (09:05 GMT) during Sunday’s opening.
The EGX indices opened in red notes, except for the EGX 20 which solely rose.
Benchmark EGX30 tumbled by 0.14% to 5481.8 p; while EGX20 inched up by 0.04% to 6425.46 p.
Meanwhile, the mid- and small-cap index, the EGX70 edged down by 0.27% to 469.97 p. Price index EGX100 dipped by 0.32% to 794 p.
This was after trading in 99 listed securities; 69 declined, 10 advanced; while 20 keeping their previous levels.
During Sunday’s opening session, the trading volume has reached 36.774 million securities worth EGP 51.185 million, exchanged 2.557 thousand transactions.
EGX opening losses were driven by local and non-Arab foreign selling pressures as they were net sellers seizing 76.49% and 11.93% respectively, of the total markets, with a net equity of EGP 167.447 thousand and EGP 4.996 million excluding the deals.
Meanwhile, Arab were net buyers seizing 11.58% of the total markets, with a net equity of EGP 4.829 million excluding the deals.
For the leading EGX-listed firms’ stocks, Orascom Telecom Media And Technology Holding SAE (OTMT.CA) jumped by 9.52% to EGP 0.69 amid the announcing of its standalone financial statements which revealed a net profit of EGP 6.307 million for the fiscal year of 2012 that ended on December 31st, 2012. OTMT’s profit before excluding interests, taxes, depreciation and amortization have hit EGP 5.537 million.
Orascom Telecom Holding SAE (ORTE.CA)’s stock surged by 1.19% to EGP 4.24.
Egyptian Financial Group-Hermes Holding (HRHO.CA)’s stock edged down by 0.44% to EGP 11.35.
Orascom Construction Industries – OCI (OCIC.CA)’s stock fell by 0.34% to EGP 258.00. The Egyptian government is currently in talks with OCI seeking to dissuade the firm from delisting from the EGX, Egypt’s Investment Minster Osama Saleh said on Thursday.
