An Egyptian Exchange (EGX) report about investor trading during the first quarter (Q1) of 2016 has revealed that foreign investors recorded sales worth EGP 401.92m since the beginning of 2016, while Arab investors recorded purchases worth EGP 594.67m, excluding deals.
The report showed that Egyptian investors acquired 86.25% of total trading, compared to 7.8% acquired by foreign investors, and 5.94% by Arab investors.
Institutions acquired 59.04% of trading during the first three months of 2016, compared to 40.96% for individual investors.
During this period, investment institutions recorded sales estimated at EGP 309.93, led by Egyptian institutions that recorded sales estimated at EGP 169.55m.
Market capitalisation of the EGX declined by 5.2%, from EGP 429.793bn to EGP 407.481m, due to the elimination of Orascom Construction Industries from the main market. On the other hand, the EGX30 stock recorded an increase by 7.41% during the first quarter of 2015, closing at 7,525 points compared to 7,006 points.
The communications sector recorded a significant increase during the same period by 32.66%, followed by the tourism and travel sector by 16.97%, then the petrochemicals sector with an increase of 9.71%, and finally the financial services sector by 9.27%.
The construction and building materials sector has recorded a decline of 17.87%, followed by the health care and medicines sector by 15.27%, then the food and beverages sector by 3.01%.
During the last quarter the market witnessed trading worth EGP 67.908bn for 17.813 million stocks through the implementation of 1,592 thousand operations.
Stock trading acquired 60.39% of total trading compared to 39.61% for bond trading.
On the other hand, EFG-Hermes had the lion’s share of the value of operations implemented during the first quarter amid brokerage companies, with trading worth EGP 9.606bn, acquiring 11% of market trading.
The first 10 brokerage companies in the ranking have acquired 53% of EGX’s trading during Q1 of 2016.