Egypt's stock market shares plunge on Wednesday encountering losses worth 10 billion Egyptian pounds (US$1.3 billion) driven by local investors' selloffs. The country's benchmark index, EGX30 retreated further below 9200 points. The rest of the Egyptian Exchange (EGX)'s indices were wavering also on red notes during the closing session of Wednesday. Indices: The benchmark index, EGX30 pushed down by 1.80 percent to close at 9198.46 points. EGX20 tumbled by 2.13 percent to 9863.4 points. In addition, the mid- and small-cap index EGX70 dived by 3.24 percent to 508.91 points. The price index, EGX100 sank by 2.50 percent to 1042.6 points. Turnovers still below 1 billion Pounds On Wednesday, the trading volume has reached 143.040 million securities, with turnovers closed at EGP 718.999 million, exchanged through 22.746 thousand transactions. Also during the closing session, 185 listed securities have been traded in; 145 declined, 16 advanced; while 18 kept their previous levels. The market capitalization recorded EGP 503.658 billion on Wednesday. Investors' Activities Local investors were net sellers on Wednesday seizing 82.2% of the total market, with a net equity of EGP 36.828 million, excluding the deals. On the other hand, the non-Arab foreign investors and Arab investors were net buyers capturing 13.88% and 3.92% respectively of the total markets, with a net equity of EGP 66.475 million and EGP 8.906 million, respectively, excluding the deals.
