Instability in the Egyptian capital market pushed foreign investors to continue selling their shares in the Egyptian Exchange (EGX) for the second consecutive month, registering EGP 195.87m in net sales for transactions in February 2016.
Foreign investors have sold EGP 744.54m in shares since the beginning of 2016.
In its first monthly report issued Monday evening, the EGX explained that Arab investors recorded net purchases of EGP 259.2m, which bring net purchases in 2016 to EGP 417.2m.
However, other indices of the market reported advances. Egyptian investors continued their purchases, continuing the trend in the first months of 2016, which amounted to EGP 63.34m in February, bringing their total purchases to EGP 453.92m over the past two months.
Financial institutions tended towards strengthening their financial portfolios by logging net purchases of EGP 104.2m. Financial institutions acquired 69.6% of the exchanged shares on the stock market, compared to sales of EGP 956.36 in January 2016.
Total capital holdings in the EGX increased at a rate of 1% during February to an approximate value of EGP 393bn.
The trade volume of shares on the EGX increased to EGP 20.1bn in February compared to EGP19.576bn in January 2016. The EGX30 appreciated 2.57% in February.