EGX mid-session report: Market plunges on Egyptians’ sale
Egyptian Exchange - AFP/Marco Longari

CAIRO: The Egyptian Exchange’s indexes collectively declined during the mid-session on Thursday due to profit taking mainly by Egyptian investors, leading the benchmark index EGX30 to fall by 0.71 percent to close at the mid-session at 7,968 points, compared to 8,025 points on Wednesday.

The market capital dropped to 489.52 billion EGP ($70.32 billion), compared to 490.99 EGP ($70.54 billion) yesterday, scoring 1.4 billion EGP ($201 million) in loss.

The EGX70 index for small and mid-caps edged down 0.59 percent, the broader index EGX100 also fell by 0.55 percent and the EGX20 index went down 0.89 percent.

The fall was attributed to Egyptians’ sell-offs, while Arabs and foreigners tended to sell. Egyptians’ net sale reached 14.65 million EGP ($2.1 million), while Arabs’ net purchases registered at 1.87 million EGP ($268 million) and foreigners’ net purchases totaled 12.77million EGP ($1.83 million).

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