Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

EGX Plunges 4.2% to Record Biggest Daily Loss since Pandemic

Wed 15 Mar 2023 | 07:26 PM
Taarek Refaat

The Egyptian Stock Exchange indices plunged strongly at the end of Wednesday's trading, after losing most of its opening gains.

The main index "EGX30" lost about 4.2%,to close at 14,724 points, the largest daily decline rate since the coronavirus pandemic.

The biggest decline came in the EGX70 index of small and medium stocks, by about 8.22% at 2564 points, and the broader EGX100 index lost about 7.64% at 3811 points.

The trading value amounted to EGP 1.9 billion, while the number of traded shares reached 198 shares, of which 8 rose, while 139 declined, and 51 shares remained unchanged.

The market cap of listed shares lost about EGP 44 billion to close at EGP 956 billion, compared to EGP 1 trillion in the previous closing.

The selling trend dominated the dealings of Egyptian investors, with a net value of EGP 117.03 million, compared to a net purchase of Arab, and foreign investors with a value of EGP 94.5 million and EGP 22.5 million, respectively.