SHUAA: Foreigners pump 511 million pounds into the financial services sector on the stock exchange
Shuaa Investment Bank said that despite net foreign inflows of LE 157 million during the period from 24 February to 3 June 2019, they have made significant investments in the financial services sector, with net inflows of LE 511 million, That Citadel Capital has attracted some of these large inflows to the sector due to the positive sentiment surrounding it, thanks to the new large refining plant which is about to be officially launched by the Egyptian Refining Company.
Shuaa added in its daily report, as foreign inflows into the real estate, oil and gas sectors amounted to 114 million pounds and 48 million pounds respectively. Meanwhile, their outflow from the services and industrial products sector, personal and household products sector reached 251 million pounds and 220 million pounds Respectively.
Shuaa pointed out that the Egyptians exchanged seats with foreigners. Egyptian investors were also net sellers during the period with an outflow of 174 million pounds. Nevertheless, they seem to have exchanged seats with foreigners, investing 178 million pounds in the industrial services and products sector , And 158 million pounds in the personal and household products sector. At the same time, outflows from the financial services sector amounted to LE 665 million, from banks to LE 143 million, from real estate to LE 104 million and from oil and gas to LE 19 million.
As for the Arabs, Shuaa pointed out that the Arabs recorded net inflows of EGP 331 million, preferring the financial services sector, such as foreigners, to pump 154 million pounds in this sector. At the same time, they were net sellers in the health care and pharmaceutical sector , With net cash outflow of 153 million pounds.
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