The Egyptian stock exchange main index EGX30 continued the negative performance as stocks continued declining, the market tried to recover but selling pressure still dominates closing the index negative nearer the session’s low, said Blom Egypt Securities.
The majority of stocks rebounded today after an aggressive 4 percent decline in yesterday’s session.
Local institutions bought activities especially on big caps due to attractive levels, improving the EGX30 index performance, yet it closed in the red, declining 0.55 percent, coming in at 9,115.41 points on a total turnover of LE587 million, according to the Egyptian Exchange data .
Local institutions closed as the only net buyers recorded LE33.80 million as opposed to foreign and Arab institutions that were net sellers at LE17.12 million and LE6.92 million respectively, the Egyptian Exchange data showed.
Therefore, the market capitalization incurred losses worth 2.4 billion, recording LE508.6 compared to LE510.2 billion on Sunday.
