EGX Gains 1.3 Bln, Main Index Ends 0.02% Higher Despite Demonstrations

During Tuesday closing session, the Egyptian Exchange (EGX) has managed to turn its opening losses once again into gains of around EGP 1.3 billion as the capital market has amounted to EGP 350.086 billion.

The EGX indices closed in green.

The main index, EGX30 edged up by 0.02% to end at 5048.17 p. EGX20 inched higher by 0.22% to close at 5787.04 p.

Meanwhile, the mid- and small-cap index, the EGX70 climbed by 1.15% to conclude at 442.72 p.  Price index EGX100 rose by 0.75% to finish at 742.84 p.

Traded volume reached 77.306 million securities worth EGP 217.191 million, exchanged 15.824 thousand transactions.

This was after trading in 172 listed securities; 37 declined, 102 advanced; while 33 keeping their previous levels.

EGX’s gains were backed by Arabs and the non-Arab Foreigners’ buying deals as they were net buyers seizing 4.31% and 7.36% respectively, of the total market, with a net equity of EGP 13.013 million and EGP 20.436 million, excluding the deals.

On the other hand, Egyptians were net sellers seizing 88.33% of the total markets, with a net equity of EGP 33.450 million excluding the deals.

The benchmark stock index surrendered its spot as the world’s best performer this year after renewed political unrest in the country triggered the worst drop since last year’s uprising.

EGX30, which tumbled the most on Sunday (Black Sunday) since the start of last year’s uprising, slid 3.9 percent to 4,726.04 at 10:37 a.m. in Cairo today, trimming this year’s gains to 31 percent. The measure lost the top spot to Pakistan’s Karachi 100 Index and fell to fifth place among 93 indexes tracked by Bloomberg. The Egyptian pound, subject to managed float, weakened 0.2 percent, the biggest intraday drop since December 2011, to 6.1042 a dollar.