CAIRO: The Egyptian Exchange (EGX) plunged during the course of the first quarter of fiscal year 2015-2016, and its market capitalization lost around 36.44 billion EGP ($4.65 billion,) according to its quarterly report.
Over the past three months, Egypt’s market traced global stock markets’ dips on fears about an imminent China-led economic slowdown, along with sharp slips of oil prices.
Weighed also by some negative drivers locally, the benchmark index EGX30 plummeted 12.41 percent to end September at 7,333 points, down from 8,372 points at June-end.
Similarly, the small and mid-cap index tumbled 12.65 percent, ending Q1 at 388 points, compared to 445 points. The broader index EGX100 also dropped to 837.7 points, 10.32 percent down from 942 points at June-end.
Total turnover amounted to 64.6 billion EGP, 10.788 billion securities traded over 1.128 million transactions, compared to 48.7 billion EGP and 8.912 billion securities traded over 1.16 million transactions in the previous quarter.