Foreigners lead stock market to decline in January

Mohamed Ahmed
1 Min Read
The Egyptian stock market indices continued to drop for the fourth consecutive day, reportedly affected by the Greek economic crisis, the drop in China’s capital market and domestic fears of militant attacks. (DNE File / Mohamed Omar)

Foreign investors’ transactions during January 2016 achieved net sales of EGP 548.58m, reflecting the trend towards reducing their financial portfolios in the Egyptian market.

Egyptian investors recorded net purchases of EGP 390.58m, and Arab investors recorded net purchases of EGP 158m, the Egyptian Exchange (EGX) said in a monthly report, issued on Monday.

Financial institutions tended towards reducing their portfolios and recorded net sales of EGP 956.36m, accounting for 65.06% of stock market trading, while individuals acquired 34.94% of the capital market transactions in January.

The market capitalisation of the stocks listed on the EGX declined by 9% in January, to fall to EGP 391bn.

The total value of the EGX trading over the past month amounted to EGP 19.576bn, of which transactions on shares were EGP 8.76bn.

The EGX-30 index fell by 14.46% during January, following a decline in oil prices and the slowdown in the global economy, which negatively impacted the EGX and other emerging markets.

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