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EGX-30 slides down to 5,700 points - Daily News Egypt

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EGX-30 slides down to 5,700 points

Benchmark index expected to range between 5,300 and 5,900 points, analysts say


 

Egyptian Exchange (EGX) benchmark index EGX-30 continued to decline on the first trading day of the week to drop to 5,753.74 points compared to 5813.72 points registered Thursday.

Since the beginning of 2016, the Egyptian capital market has been going through significant fluctuations. The peak of performance for EGX-30 was recorded on 3 January when the index climbed to 7,089 points.

Broader Index EGX-100 inched up by 0.25% however to 698.11 points, while small and medium enterprises’ (SMEs) index EGX-70 increased by 0.69% and reached 349.88 points. The trading day closed with 57 gainers, 49 decliners, and 42 unchanged.

Egyptians investors purchased stocks while foreigners and Arabs sold theirs. Selling also dominated institutions’ behaviour while individuals purchased stocks.

The performance of EGX-30 is expected to range between 5,000 points throughout this week, capital market analysts said.

Analysts also predicted that the medium term performance of EGX’s indices will remain affected by the series of losses that started in January.

Over the past week, EGX-30 dropped by 6.26%, closing at 5813.54 points compared to the 6202.22 points at which it opened the week. The broader index, EGX-100, decreased from 696.4 points to 708.61 points, a 1.72% drop. SME index EGX-70 inched down by 0.57% and closed the week at 349.46 points.

The total value traded recorded EGP 6.9bn while the total volume traded was 1bn securities while the total market capitalisation of the listed stocks amounted to EGP 386bn at the end of last week.

 

Topics: EGX

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https://wwww.dailynewssegypt.com/2016/02/14/egx-30-slides-down-to-5700-points/
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