Cairo – Mubasher: The Egyptian Exchange (EGX) finished Thursday in the red, amid selling by Egyptian and Arab investors.
The benchmark EGX30 index plunged 345.71 points, or 2.06%, reaching 16,414.53 points, while the EGX70 index shed 0.56% to 842.66 points.
The EGX100 index fell 0.98%, reaching 2,138 points, while the EGX50 index decreased 1.61% to 2,819 points.
The bourse’s traded volume reached 339.25 million shares, via 39,180 transactions, generating EGP 3.3 billion.
Elsewedy Electric's, Global Telecom Holding's, and Commercial International Bank's (CIB) stocks acquired about two-thirds of the EGX's total turnover with EGP 2.3 billion.
Foreign traders were net buyers with EGP 198.06 million, while Egyptian and Arab investors were net sellers with EGP 53.4 million and EGP 144.6 million, respectively.
Institutional investors dominated 77.7% of total transactions, while their net sales amounted to EGP 102.5 million, while retail investors made up the remaining 22.3% and netted EGP 102.5 million in purchases.
Egyptian traders acquired 37.8% of total activities, while foreign and Arab investors made up 48.4% and 13.8%, respectively.
CIB’s stock, the bourse's heaviest-weighted stock, shed 0.92% to EGP 86.
Global Telecom Holding’s stock fell 3.94%, followed by Egyptian Resorts Co’s stock with 3.77%, and Elsewedy Electric’s stock with 3.77%.
On the other hand, Telecom Egypt’s (TE) stock increased 5.15%, while Orascom Construction’s stock rose 1.59%.
The EGX’s market capitalisation lost EGP 13.17 billion to close Thursday at EGP 930.3 billion.
