EGX watches collective decline Sunday
The Egyptian stock exchange - AFP/Khaled Desouki

CAIRO: The Egyptian Exchange‘s indexes collectively declined during Sunday’s trading sessions supported by Arab and foreign investors’ net purchases, while Egyptian investors along with institutions’ mostly sold, Youm7 reported Sunday.

During Sunday’s trading sessions, the EGX30  benchmark edged down by 1.93 percent to 8092 points , the EGX70 for small and mid-cap enterprises went down by 1.47 percent,  registering 617.8 points, while the broader EGX100 also declined by 1.56 percent to worth 1077 points.

Egyptian institutions’ net sales reached 23.9 million EGP during Sunday’s trading sessions, while the EGX capital market lost approximately 5.6 billion EGP, to reach 481.6 billion EGP, compared to 487.4 million EGP at the close of Thursday’s trading sessions, the EGX page reported.

 The EGX’s trade value reached 741 million EGP, supported by the Arab and Foreign investors’ net purchases.

The Nile Stock Exchange for small and mid–cap enterprises (NILEX) index declined Sunday by 3.14 percent to be valued at 970 points.

During Sunday’s trading sessions, 17 securities were submitted for trading, 15 of which edged down and the other two remained unchanged, and the Nilex’s trade value reached 2.05 million EGP on 656,000 shares, Youm 7 reported.

 Saed Hilal, the executive manager of Al-Hilal Al-Saudi Company for Financial Securities, told The Cairo Post by the end of the third quarter of the current fiscal year Egyptian institutions tended towards selling to settle their financial statuses and to compensate their share holders.

 Over the last three months, Egyptian institutions’ transactions mostly purchased due to the low prices of shares that have greatly affected by the political actions and terrorist attacks, he said, adding that during the latest sessions in the EGX, the Egyptian institutions achieved about 100 percent net  profits.

Additional reporting by Mahmoud Askar.

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