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Local selloff weighs on EGX at Wednesday’s close

Local selloff weighs on EGX at Wednesday’s close
Market cap lost EGP 4.1 billion

Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) ended Wednesday with negative performance, dragged down by local selloff, amid Arab and foreign purchases.

Market capitalisation lost EGP 4.1 billion and closed the session at EGP 809.401 billion.

The benchmark EGX30 index went down 0.73% to 14,864.01 points, while the small- and mid-cap EGX70 index shed 0.25% to 663.22 points and the broader EGX100 index retreated 0.32% to 1,691 points.

The EGX’s trading volume reached 96.47 million shares, while the market’s liquidity hit EGP 439.86 million traded through 15,900 transactions.

By the end of the session, 171 stocks witnessed a growth, while 31 stocks remained stable, and 102 shares droped.

Egyptian investors were net sellers with EGP 756.52 million, while foreign and Arab traders were net buyers with EGP 498.62 million and EGP 257.91 million, respectively.