Driven by the ongoing turmoil, Egypt’s stocks ended much lower, on Sunday, the most in two months, incurring losses of EGP 7.4 billion. The main gauge further retreated 3.8%.
After halting sessions last Thursday, the Egyptian Exchange (EGX) is resuming normally its sessions but with trading hours shortened to three hours only instead of four. This comes after the Egyptian central bank (CBE) said the banks will re-open on Sunday from 9:00 a.m. to 12:00 p.m. (07:00 – 10:00 GMT).
Egypt’s benchmark index EGX30 dived by 3.87% to close at 5334.55 p, the lowest since June 12th; while the EGX20 sank by 3.58% to end at 6202.3 p.
Meanwhile, the mid- and small-cap index, the EGX70 pushed down by 1.85% to conclude at 421.07 p. The price index EGX100 sagged by 2.17% to finish at 721.79 p.
The capital market has closed at EGP 353.135 billion on Sunday.
Lower Traded Volumes & Trades
Through the closing session of Sunday, the trading volume has reached 112.313 million securities. For the traded value, it hit EGP 341.152 million, exchanged through 17.316 thousand transactions.
Also during the closing session, 163 listed securities have been traded in; 136 declined, 8 advanced; while 19 keeping their previous levels.
Investors’ Activity
The non-Arab foreigners were net sellers triggering EGX’s closing losses as they seized 17.73% of the total market, with a net equity of EGP 80.465 million, excluding the deals.
Meanwhile, Egyptians and Arabs were net buyers seizing 78.85% and 3.42% respectively, of the total market, with net equities of EGP 74.990 million and EGP 5.474 million, excluding the deals.
