Ahead of Feast Holidays, Egypt Stocks End higher, EGX30 Solely down

Ahead of Eid al-Fitr Holidays, Egypt’s stocks ended Sunday’s sessions higher with gains totalling 939 million Egyptian pounds powered by non-Arab foreign investors’ buying appetite. However, the country’s main stock index, EGX30 slumped below 8740 points.

Egyptian stock Exchange (EGX) announced that Eid al-Fitr (Feast of Breaking the Fast) holidays, will start on Monday July 28 until Wednesday July 30.

The trading sessions will be resumed as of Thursday, July 31.

Meanwhile, the Egyptian Exchange’s indices were wavering in green notes during closing session of Sunday, except for EGX30.

EGX is operating with shortened trading hours during the Islamic fasting month of Ramadan since the exchange would open from 10:00 to 13:30 Cairo time.

Indices

Egypt’s benchmark index EGX30 ended 0.10 per cent lower to 8735.24 pts; while EGX20 finished 0.16 per cent up to 10474.53 pts.     
In addition, the mid- and small-cap index, the EGX70 inched up by 0.46 per cent to finish at 622.58 pts. The price index EGX100 advanced by 0.37 per cent to conclude at 1099.64 pts.  
Furthermore, the market capitalization recorded EGP 497.454 billion on Sunday.

Turnovers Remain below Half a billion Pounds
Through the closing session of Sunday, the trading volume has reached 93.790 million securities, with turnovers worth EGP 301.707 million, exchanged through 16.322 transactions.               
Also during the closing session, 170 listed securities have been traded in; 56 declined, 95 advanced; while 18 kept their previous levels.

Investors’ Activities

The non-Arab foreign investors were net buyers on Sunday capturing 4.92% of the total market, with a net equity of EGP 17.343 million, excluding the deals.

On the contrary, local and Arab investors were net sellers seizing 90.34% and 4.73% respectively of the total markets, with a net equity of EGP 8.758 million and EGP 8.584 million respectively, excluding the deals.