The Egyptian Stock Exchange witnessed notable fluctuations in its performance during Sunday’s session, as the indices of 11 sectors declined, affected by selling pressures from Arab traders, while some other sectors recorded notable increases. The building materials, textiles, and financial services sectors declined, but the transportation and contracting sectors were at the forefront with notable gains, and stock trading continued at high levels despite the pressures.
The building materials sector declined by 1.7%, followed by a decline in the textiles and durable goods sector by 1.2%. The non-banking financial services, food and beverages, basic resources, and health care sectors suffered smaller declines. Among those that recorded declines was the trading and distributors sector, which fell by 0.4%. Reversing the trend, there were five sectors that achieved clear gains, including transportation services, shipping, and contracting, reflecting the divergence in economic activity.
The stock market opened today’s session with a clear collective decline, as the market capitalization recorded losses amounting to 8 billion pounds, reaching 2.761 trillion pounds, and the volume of trading in stocks reached 1.3 billion securities with a total value estimated at about 4.5 billion pounds, and Egyptian transactions played a prominent role as they constituted 93.85% of the total transactions carried out.
With increasing selling pressures from some Arab individuals and institutions, a net exit from their transactions of more than 46 million pounds was observed, while at the same time purchases continued from Egyptian and foreign individuals with a total value of 47.4 million pounds, which indicates a discrepancy in investors’ trends and responses to the current conditions in the market.
Stock market indicators reported a decline in the “EGX30” index by 0.48% to close at 38,082 points, followed by other indices such as the “EGX30 Total Return” which decreased by 0.49%. However, there was an increase in the Tamayoz index by 1.02%. It appears that the stock market will continue to face potential fluctuations in the coming weeks, highlighting the importance of carefully monitoring market movements and economic trends.
