Net Purchases of Arab Investors on EGX Reach EGP 47.4 Mln

The Foreign investors recorded a net sale on the Egyptian Exchange (EGX), with a value of EGP 276.2 million during the week ending. The Arabs recorded a net purchase of EGP 47.4 million. Egyptian transactions recorded 84.6% of total transactions on listed shares, while foreigners acquired 9.6%, and Arabs 5.9%, after excluding deals.

Egyptian transactions represented 76.9% of the trading value of the listed shares since the beginning of the year, after excluding deals while foreigners recorded 16.5% and the Arabs recorded 6.6%. The foreigners recorded a net sale of EGP 15.2 billion, the Arabs recorded EGP 571.7 million, on the listed shares after excluding deals since the beginning of the year.

Previously, Mohamed Farid Saleh, Chairman, Egyptian Exchange explained the reason for foreigners' sales on the EGX, stressing that indirect foreign investment was not absent from the Egyptian Exchange alone, but was absent from all financial markets as a result of investors' tendency to safe-havens.

This matter always happens in times of crisis, for international investment funds to invest in debt instruments until the situation stabilizes and the vision is clear Farid.

Farid stressed that the Coronavirus pandemic still affects the EGX market, but the negative effects have begun to recede, and this is evident in the much lower rates of volatility in the money market compared to the previous period, as a result of the aforementioned package of incentive measures.