Egyptian Shares End Week Higher As Investors Concerns about Morsi’s Trial Wane

Egyptian stocks have ended this week higher backed by the local and Arab net buyers as the first session in deposed president Mohamed Morsi’s trial have passed peacefully with minor clashes. The stocks gained EGP 2.8 billion during the closing session of Thursday. The benchmark index rallied to close at 6415 points.

The trial of ousted president Mohamed Morsi had started on Monday at the Police Academy on the outskirts of Cairo, but the judge decided to adjourned the trial until January 8th; the ousted Egyptian president sent to Borg Al-Arab prison.

The Egyptian Exchange indices were rallying on green notes on Thursday afternoon.

Egypt’s benchmark index EGX30 ended 0.71 per cent higher to 6415.82 pts, and the EGX20 also finished 0.49 per cent up to 7489.01 pts.   
Meanwhile, the mid- and small-cap index, the EGX70 went up by 0.22 per cent to conclude at 539.59 pts. The price index EGX100 increased by 0.22 per cent to close at 898.74 pts. 
The capital market has closed at EGP 417.207 billion on Thursday.

Turnovers
Through the closing session of Thursday, the trading volume has reached 276.433 million securities. For the traded value, it hit EGP 741.456 million, exchanged through 37.031 thousand transactions.     

Also during the closing session, 188 listed securities have been traded in; 92 declined, 75 advanced; while 21 keeping their previous levels.

Investors’ Activity

Egyptians and Arabs were net buyers propelling EGX’s closing gains for they seized 87.12% and 4.04% respectively, of the total market, with net equities of EGP 19.145 million and EGP 4.222 million, excluding the deals.

On the other hand, the non-Arab foreigners were net sellers acquiring 8.84% of the total market, with a net equity of EGP 14.923 million, excluding the deals.