As turmoil mounts in Egypt following the news about the deaths of 36 Islamist detainees and 25 policemen in Sinai, stock market has opened lower on Monday incurring early losses of EGP 152 million. The benchmark fell 0.57 percent on Monday morning. Egyptian Exchange (EGX) is performing its sessions today but with trading hours shortened to three hours only instead of four for the second day in a row. This comes after the Egyptian central bank (CBE) said the banks will open on Monday from 9:00 a.m. to 12:00 p.m. (07:00 – 10:00 GMT). For the EGX indices, they were wavering in red notes during the opening session of Monday. Benchmark EGX30 inched down by 0.57% to 5364.74 p; while EGX20 dipped by 0.35% to 6223.79 p. On the other hand, the mid- and small-cap index, the EGX70 fell by 0.17% to 421.8 p. Price index EGX100 dropped by 0.25% to 723.57 p. The capital market has reached EGP 352.983 billion during the opening session of Monday, according to data compiled by Amwal Al Ghad English at 10:56 a.m. Cairo time (08:56 GMT). Trading Volumes & Values The trading volume has recorded 1.051 million securities worth EGP 1.593 million, exchanged through 143 transactions during Monday opening. Also during the opening session, 34 listed securities have been traded in; 11 declined, one solely rose; while 22 keeping their previous levels. Investors' Activity The non-Arab foreign and Arabs' selling pressures triggered EGX's early losses as they were net sellers seizing 12.19% and 3.56% respectively, of the total market, with net equities of EGP 2.033 million and EGP 197.120 thousand, excluding the deals. Meanwhile, Egyptians were net buyers seizing 84.26% of the total market, with a net equity of EGP 2.231 million, excluding the deals.
