Egypt’s EGX30 Crosses 8535, Stocks Gain EGP3.7bn at Open

Egypt’s stocks posted opening gains on Wednesday amounting to 3.7 billion Egyptian pounds powered by non-Arab foreign investors’ buying appetite. In return, the main stock index, EGX30 crossed 8535 points at early trade.

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

EGX is operating with shortened trading hours during the Islamic fasting month of Ramadan.

The exchange is opened from 10:00 to 13:30 Cairo time during Ramadan.

Indices

The Benchmark EGX30 climbed by 1.28% to 8536.3 p, and EGX20 inched up by 1.23% to 10350.45 p.

In addition, the mid- and small-cap index, the EGX70 increased by 0.72% to 613.61 p.  Price index EGX100 also hiked by 0.81% to 1077.8 p.

Furthermore, market capitalization reached EGP 490.574 billion, according to data compiled by Amwal Al Ghad English at 11:07 a.m. Cairo time (09:07 GMT).

Trading Volumes & Values

The trading volume has recorded 48.048 million securities worth EGP 165.584 million, exchanged through 5879 transactions during Wednesday opening.

Also during the opening session, 120 listed securities have been traded in; 11 fell, 78 advanced; while 31 keeping their previous levels.

Investors’ Activities

The non-Arab foreign investors were net buyers at early trade on Wednesday capturing 15.46% of the total market, with a net equity of EGP 16.477 million, excluding the deals.

On the other hand, Egyptian and Arab investors were net sellers seizing 75.72% and 8.82% respectively of the total markets, with a net equity of EGP 14.809 million and EGP 1.668 million, excluding the deals.