Egypt Shares Start Week Higher, Gain EGP2.3 bln at Close

Egyptian stocks have started a new week higher, ending Sunday with gains totaled EGP 2.3 billion bolstered by the presidential announcement of the referendum date by January 14th and 15th to ratify the country’s new constitution. The benchmark index has closed at 6678 points.

Egypt’s interim President Adly Mansour announced on Saturday a referendum is set to be held next month to ratify the country’s new constitution.

The scheduled January 14-15 vote is the first step on a roadmap back to democracy announced by the Egyptian military last July, following the ouster of Islamist President Mohamed Morsi.

Egypt’s interim President Adly Mansour is expected to announce the date of a referendum on the amended 2012 constitution in a statement on Saturday.

The Egyptian Exchange indices were wavering in green notes on Sunday afternoon.

Egypt’s benchmark index EGX30 ended 1.13 per cent higher to 6678.96 pts, and EGX20 also finished 1.15 per cent up to 7733.21 pts.    
Meanwhile, the mid- and small-cap index, the EGX70 rose by 0.11 per cent to conclude at 534.07 pts. The price index EGX100 went up by 0.22 per cent to close at 904.68 pts.  
The capital market has closed at EGP 419.217 billion on Sunday afternoon.

Turnovers
Through the closing session of Sunday, the trading volume has reached 194.657 million securities. For the traded value, it hit EGP 452.235 million, exchanged through 23.091 thousand transactions.          

Also during the closing session, 185 listed securities have been traded in; 68 declined, 90 advanced; while 27 keeping their previous levels.

Investors’ Activities

Egyptians and the non-Arab foreigners were net buyers acquiring 88.54% and 5.3% respectively of the total markets, with a net equity of EGP 2.798 million and 3.793 million respectively, excluding the  deals.

On the contrary, Arabs were net sellers seizing 6.16% of the total market, with a net equity of EGP 6.592 million, excluding the deals.