Trading on EGX halted for 1st time since 2016

CAIRO – 22 September 2019: The Egyptian Exchange (EGX) has suspended Sunday its trading session for 30 minutes after the broader index EGX 100 fell 5 percent for the first time since November 2016.

This decision came as a result of the 5 percent drop of EGX100, the bourse clarified, adding that trading activity will resume at 13:12 Cairo time.

EGX flagged in red during the mid-session of Sunday, amid Egyptian selling.

The benchmark EGX 30 dropped 4.53 percent, or 668 point, to reach 14,073 points. The equally weighted index EGX 50 declined 6.27 percent, to hit 1,979.5 points.

The small and mid-cap index EGX 70 lessened 4.99 percent, to log 512.7 points, and the broader index EGX 100 decreased 5 percent, to 1,467.9 points.

The trading volume reached 178 million shares, traded through 18,500 transactions, with a turnover of LE 580.8 million.

Egyptian investors were net sellers at LE 181.5 million, while Arab and foreign investors were net buyers at LE 128.9 million, and LE 52.6 million, respectively.