[ad_1]
The Egyptian Stock Exchange suspended trading today, Tuesday, for 30 minutes, after the EGX 100 index fell 5%, while the main Egyptian index fell 1.99%, to 10,327.6 points .
Today’s sharp declines came after individual investor speculation pushed the Egyptian Stock Exchange to take huge losses in Monday’s trades, losing its main index by 2.45% and its shares by more than 17%. billion pounds ($ 1.1 billion) of their market value.
The trading value in today’s trades and before trading was suspended reached £ 267.944million.
Today, Orascom Investment shares are down 7.4%, Orascom Financial and Al-Qalaa 8.4% each, Amer Group 10%, Talaat Mustafa 5.7% and Pioneers 5.6%.
From the start of the session until today, the Egyptian Stock Exchange has suspended trading of 80 shares for a period of ten minutes, after falling more than 5%.
“There is no political or economic development in the country which could lead to these violent losses,” Rania Yaqoub, chairman of the board of directors of Three Way Securities, told Reuters yesterday. walked as they pleased. “
The Egyptian Stock Exchange has recently suffered from strong speculation from individual investors, which has caused it to lose its gains made last January and resulted in a loss of the main index of 4.8% since the beginning of this year. .
In an interview with Al Arabiya, BLOM Securities Brokerage Managing Director Mohamed Fathallah believes the stock market declines are due to the sale of small stocks.
Source link
