Egypt Shares Rally at Open, Gain EGP1.4 bln

Egyptian stocks have opened Tuesday higher posting gains of EGP 1.4 billion powered by local and Arab net buyers. The main gauge rallied crossing 6680 points early Tuesday.

The Egyptian Exchange’s indices were wavering in green notes during opening.

The Benchmark EGX30 inched up by 0.56% to 6681.26 p; while EGX20 also increased by 0.49% to 7748.68 p.

Additionally, the mid- and small-cap index, the EGX70 rose by 0.37% to 534.04 p.  Price index EGX100 hiked by 0.40% to 905.88 p.

The capital market has opened on Tuesday at EGP 419.947 billion, according to data compiled by Amwal Al Ghad English at 11:15 a.m. Cairo time (09:15 GMT).

Trading Volumes & Values

The trading volume has recorded 19.090 million securities worth EGP 80.958 million, exchanged through 2853 transactions during Tuesday opening.

Also during the opening session, 112 listed securities have been traded in; 8 fell, 68 advanced; while 36 keeping their previous levels.

Investors’ Activities

Egyptians and Arabs were net buyers powering EGX’s early gains as they seized 91.1% and 4.17% respectively of the total markets, with a net equity of EGP 4.399 million and EGP 1.129 million respectively, excluding the deals.

On the contrary, the non-Arab foreigners were net sellers acquiring 4.73% of the total market, with a net equity of EGP 5.528 million, excluding the deals.