Egyptian bourse's indices slip 3% in a week; Market cap loses EGP 33 bln

Muhammed Khalid , Thursday 18 May 2023

The Egyptian Exchange (EGX) experienced a downturn by the end of this week on Thursday, 18 May; and the market cap lost EGP 33 billion, standing at EGP 1.09 trillion, down from EGP 1.136 trillion in the previous week's end.

EGX trading hall.
EGX trading hall. (Al Ahram).


The benchmark index, EGX30, suffered a decline exceeding 3 percent over the week and eventually closed at 16,745.5 points.

Similarly, the EGX50 index experienced a decrease of 3.2 percent, ending at 3,035.1 points. The EGX70 also saw a decline of 3.2 percent, reaching 2,962 points, while the EGX100 shed 3.1 percent and concluded at 4,497 points.

Moreover, trading volume plummeted 38.6 percent in a week, with approximately 402.9 million shares traded. The trading of these shares generated a value of EGP 1.7 billion which resulted from 64,834 transactions.

* 1 USD = 30.95 EGP according to the Central Bank of Egypt's official exchange rate on Thursday 18 May.

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