Thursday, October 22, 2020

Egyptian stocks decline on Arab, foreign selling

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

CAIRO: The Egyptian Stock Exchange ended the session on Tuesday with a collective decline of all indicators, driven by selling pressure from Arab and foreign dealers. The market capitalization also declined by EGP 3 billion to close at EGP 746.247 billion.

The volume of trading on the shares amounted to 409 million securities worth 2.4 billion pounds, through the implementation of 23.1 thousand transactions for 170 companies, the increase in value of trading due to the implementation of the purchase of a stake in the company Tharwa Capital, the Egyptians accounted for 69.71% of the total transactions, Non-Arabs accounted for 16.22%, and Arabs at 14.08% during the trading session on Tuesday.

The institutions accounted for 67.71% of the transactions on the stock exchange. The rest of the transactions were for individuals at 32.28%.

The net transactions of Egyptian, Arab and foreign individuals and Arab and foreign institutions for sale amounted to EGP 244 million, EGP 183.6 million, EGP 23.8 million, EGP 313.8 million and EGP 545.1 million, respectively. Meanwhile, Egyptian institutional investors netted EGP 1.3 billion.

The EGX30 index shed 0.71 percent to end at 13121 points. The EGX 50 index shed 0.56 percent to close at 2155 points. The EGX20 index was down 0.85 percent at 13183 points.

On the other hand, the index of EGX70 shed 0.17% to 676 points. The EGX index shed 0.32% to close at 1695 points.

Shares of 53 listed companies closed at the close of trading, and 83 companies declined, and 34 companies remained unchanged.

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

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