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Egyptian stock indexes fell sharply during a session on Monday, motivated by sales of foreign and Arab investors, in conjunction with the announcement of the increasing number of infections with the Corona virus, and the market capitalization decreased by about 33 billion pounds, to close at the level of 594 billion pounds, to reach its losses during two trading sessions This week, about 50 billion pounds.
The stock exchange management decided to stop trading in shares for half an hour before the middle of the trading session after the EGX 100 index decreased by 5%. The main index of the Egyptian Stock Exchange EGX30 decreased by 7.3%, to reach the level of 10983 points, the lowest level in 3 years before the pound floated. EGX50 index fell by 6% to close at 1535 points, the index of medium and small companies EGX70 of equal weights decreased by 5% to close at 1083 points, and the EGX100 index fell by 5.7% to close at 1167 points.
Shares of 5 companies listed on the stock exchange rose at the close of trading, shares of 135 companies decreased, and the levels of 29 companies did not change. The volume of trading on shares amounted to 259.6 million securities at a value of 2.1 billion pounds, through the implementation of 24.5 thousand transactions.
And the Egyptian investors’ transactions tended towards buying, registering a net purchase of 229.5 million pounds. While the transactions of foreign and Arab investors tended towards selling, registering a net sale of 136.4 million pounds to foreigners and 93 million pounds to Arabs.
On the other hand, the Arab markets witnessed sharp declines during Monday’s trading, in conjunction with the announcement of the increasing spread of Corona and taking precautionary measures to confront it, as the Qatar Stock Exchange fell at the largest rate of decline ever, and the market value decreased 9.5%, and the general index of Qatar Stock Exchange declined by 9.70% to reach To the point 8160.23 points.
The Bahrain Stock Exchange fell by nearly 6%, to the level of 1471.62 points, with a loss of 91.02 points, and transactions were conducted at a size of 4.25 million shares, valued at 1.58 million dirhams.
The Saudi stock market index fell by more than 400 points, by 6.5%, and stopped at 6,407 points, to reach its lowest level in more than 3 years.
The trading session witnessed a semi-collective decline in shares, led by each of “SABIC”, “Al-Rajhi Bank” and “Al-Ahli Commercial”, while the shares of “Saudi Aramco” were trading at 28.10 riyals (-6%).
The Kuwait Stock Exchange also witnessed the suspension of trading for the third time in the last period after the losses exceeded the 10%.
The Dubai Financial Market incurred losses amounting to approximately 20 billion dirhams today only at its lowest level in 7 years and the general index of the market fell by 8.29%, to the level of 2078.92 points, losing 188.01 points.
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