As Egypt’s Second Post-Revolt President Sworn in, Stocks Open with EGP3.5bn Gains

As ex-chief army Abdel Fattah al-Sisi was sworn in on Sunday, Egypt’s stocks opened this week higher with gains amounting to 3.5 billion Egyptian pounds. In return, the main stock index, EGX30 also surged at early trade on Monday exceeding 8590 points.

Meanwhile, the EGX indices were wavering in green notes during the opening session of Monday.

EGX declared Sunday as official vacation celebrating Sisi’s inauguration. The trading sessions resumed today.

Indices

The Benchmark EGX30 inched up by 1.11% to 8592.93 p, and EGX20 grew by 1.33% to 10416.02 p.

In addition, the mid- and small-cap index, the EGX70 advanced by 0.88% to 604.53 p.  Price index EGX100 also went up by 0.88% to 1057.2 p.

Furthermore, market capitalization reached EGP 490.145 billion, according to data compiled by Amwal Al Ghad English at 11:28 a.m. Cairo time (08:28 GMT as Egypt turned to Daylight saving time).

Trading Volumes & Values

The trading volume has recorded 118.091 million securities worth EGP 301.355 million, exchanged through 9091 transactions during Monday opening.

Also during the opening session, 122 listed securities have been traded in; 15 fell, 85 advanced; while 22 keeping their previous levels.

Investors’ Activities

Egyptian and the non-Arab foreign Arab investors were net buyers at early trade on Monday capturing 89.42% and 3.58% respectively of the total markets, with a net equity of EGP 4.694 million and EGP 5.766 million respectively, excluding the deals.

On the other hand, Arab investors were net sellers seizing 6.99% of the total market, with a net equity of EGP 10.460 million, excluding the deals.