|
Unrest in Egypt has lead the stock market to losses amounting to 10.05 billion EGP of its capital on Monday, amid foreign investors’ panic and subsequent withdrawal from the market. The principal index EGX30 declined by 3.9 percent closing at 3,862 points, while the index of small and medium companies EGX70 declined by 5.02 percent. EGX100 also declined by 4.2 percent.
Egyptian investors made up 73.05 percent of Monday's transactions, achieving net purchasing of 10.5 million EGP. Arab investors accounted for 8.08 percent, achieving net purchasing of 19.5 million EGP. Foreign investors had18.87 percent, achieving net sales of 30.07 million EGP.
Egypt's stock market decided to suspend dealing on shares of 70 companies for 30 minutes as they declined by over five percent, the accepted limit percentage of decline. Chairman of Egypt's stock market Mohamed Omran said "I have no advice for investors during the current critical stage the country is witnessing." He ruled out closing the bourse. He said there are no intentions or plans to draft new rules or measures to control the stock market, adding that enough rules exist.
|
