EGX30 Drops 3.41% as Market Loses EGP 116 Billion
The EGX30 index fell by 3.41% to 51,052.26 points, and the market capitalization of the Egyptian Exchange lost EGP 116 billion, amid net selling by foreign investors.
The Egyptian Exchange ended Thursday's session with broad losses, as the EGX30 index fell 3.41% to close at 51,052.26 points, according to Business Today Egypt.
The Shariah index dropped 4.61% to 6,037.81 points, and the small and medium-sized enterprise index EGX70 fell 3.09% to 17,184.31 points, while the EGX100 index lost 3.2% to close at 23,117.46 points.
The market capitalization of listed companies fell to EGP 3.949 trillion, down from EGP 4.065 trillion in the previous session, dropping below the EGP 4 trillion mark. Trading value reached around EGP 8.1 billion, with 2.084 billion shares traded across approximately 218,299 transactions.
Regarding investor transactions, Egyptians turned toward net buying at EGP 665.3 million, while Arab and foreign investors recorded net sales of EGP 239.8 million and EGP 425.5 million, respectively. The decline reflects broader regional pressure following drops in Gulf markets and rising oil prices.
What do these terms mean?
EGX30: The main index of the Egyptian Exchange, including the top 30 companies in terms of liquidity and market capitalization.
EGX70: An index tracking the performance of small and medium-sized companies listed on the Egyptian Exchange.
Market Capitalization: The total value of listed companies' shares, calculated by multiplying the stock price by the number of available shares.
Net Selling: The difference between the value of investors' sales and purchases; it is negative when sales exceed purchases.
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