EGX30 Drops 1.14% to 51,613 Points; Market Cap Hits 4.052 Trillion

The main Egyptian Exchange index (EGX30) closed Monday's session on October 12 down 1.14% at 51,613.92 points, continuing losses from the previous session, according to a Business Today Egypt report.

Market capitalization of listed stocks dropped to EGP 4.052 trillion, down from EGP 4.122 trillion in the previous session, a volume reflecting the massive scale of listed companies, though it remains sensitive to movements in heavy-weight blue-chip stocks driving the index up and down.

The decline extended to broader indices, as the EGX70 index for small and medium enterprises fell 4.33% to 18,421.83 points, the broader EGX100 index slid 3.52% to 24,525.91 points, and the Shariah index dropped 1.92% to 6,333.49 points, according to the same data.

Egyptian investors recorded net sales of around EGP 42.4 million, and foreign investors around EGP 25.5 million, while Arab investors were net buyers at approximately EGP 67.9 million. This performance concerns investors and savers in Egypt, as the broadening scope of losses indicates selling pressure is no longer confined to blue-chip stocks.

What Do These Terms Mean?

EGX30: The main index of the Egyptian Exchange, comprising the top 30 companies in terms of liquidity and market capitalization.

Market Capitalization: The total market value of listed shares, calculated by multiplying each share's price by its total number of shares and summing the results.

EGX70 Index: An index measuring the performance of small and medium-sized enterprises listed on the Egyptian Exchange.