Egyptian Stock Exchange Drops Sharply: EGX30 Falls 2.63% as Foreigners Sell
The EGX30 index closed down 2.63% at 50,896 points, while EGX70 dropped 6.58% and EGX100 fell 5.75%, with net foreign selling reaching 5.562 billion EGP.
The Egyptian Stock Exchange closed with sharp losses, as the EGX30 index dropped by 2.63% to 50,896 points, while the EGX70 index fell by 6.58% to 17,265 points.
The EGX100 index decreased by 5.75% to 23,193 points, with the selling wave expanding to small and medium-sized enterprises, according to Business Today Egypt.
Net selling by foreign investors reached 5.562 billion EGP, and the market capitalization of stocks declined to 3.892 trillion EGP from 4.051 trillion EGP in the previous session.
This decline reflects pressure on Egyptian equities amid the outflow of foreign liquidity, while traders monitor market drivers and the performance of blue-chip stocks in upcoming sessions.
What do these terms mean?
EGX30: The main index of the Egyptian Stock Exchange, comprising the top 30 companies in terms of liquidity and free-float market capitalization.
Market Capitalization: The total market value of listed companies' shares, measuring market size and total shareholder wealth.
Net Foreign Selling: The difference between the value of foreign investors' sales and purchases during a session; a high figure indicates liquidity leaving the market.
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