The Egyptian stock market witnessed a decline in its indices on Monday, with the main index EGX30 down 0.68% at 54,994 points. The EGX30 weighted index and EGX30 total return index also fell by 0.74% and 0.68%, respectively. The EGX35-LV index, which tracks low-volatility stocks, declined by 1.86% to 6,771 points. The market capitalization lost around 47 billion Egyptian pounds, closing at 4.337 trillion pounds.
The trading activity on Monday saw Egyptian investors dominating the market, accounting for 85.4% of the total transactions on listed stocks. Foreign investors, on the other hand, accounted for 11.4%, while Arab investors made up 3.1%. After excluding deals, foreign investors recorded a net sell of 179.8 million Egyptian pounds, while Arab investors recorded a net sell of 59.4 million pounds.
The year-to-date performance of Egyptian investors in the stock market has been significant, with their transactions accounting for 88.2% of the total trading value of listed stocks. Foreign investors and Arab investors accounted for 7.6% and 4.2%, respectively. The net sell by foreign investors this year has been around 9 million Egyptian pounds, while Arab investors recorded a net sell of approximately 9.76 million pounds.
In addition to the main index, other indices also witnessed a decline on Monday. The EGX70 equal-weighted index, which tracks medium and small-sized companies, fell by 2.77% to 20,480 points. The EGX100 equal-weighted index declined by 2.29% to 26,999 points, while the Islamic Sharia index fell by 0.99% to 6,605 points.
This decline in the stock market follows a similar trend from the previous day. On Sunday, the first trading day of the week, most indices declined, with the market capitalization losing around 12 billion Egyptian pounds to close at 4.384 trillion pounds. The EGX30 index fell by 0.23% to 55,371 points, while the EGX30 weighted index and EGX30 total return index declined by 0.46% and 0.22%, respectively.
The decline in the stock market has been a trend in recent days, with investors becoming cautious. The main index EGX30 has been fluctuating, and the market capitalization has been under pressure. The economic indicators and global events have been affecting the market sentiment, leading to a decline in investor confidence.
Despite the decline, some indices witnessed a rise on Sunday. The EGX70 equal-weighted index rose by 0.01% to 21,063 points. However, this gain was not enough to offset the losses witnessed on Monday. The market is expected to continue to fluctuate in the coming days, with investors advised to exercise caution when making investment decisions.
Key points
- Egyptian stock market indices decline on Monday, with the main index EGX30 down 0.68%.
- Egyptian investors dominate the market, accounting for 85.4% of the total transactions on listed stocks.
- The market capitalization lost around 47 billion Egyptian pounds, closing at 4.337 trillion pounds.
