As Trading Hours Extended, Egypt Stocks End Week with EGP3.6bn
Egypt’s stocks ended this week higher with gains totalling 3.6 billion Egyptian pounds amid extended trading hours. Accordingly, the country’s main stock index, EGX30 surged above 8825 points on Thursday powered by non-Arab foreign investors’ buying appetite.
Egypt bourse Chairman Mohamed Omran has recently issued Decision No. 205 to extend the trading hours to be 4 and half hours
Dr. Omran asserted that removing the precautionary measures and extending the trading hours send a clear message of investors that EGX has recovered from the last years’ incidents and Egypt’s condition is back to normal.
The trading sessions have been resumed today after announcing a three day vacation on the occasion of that Eid al-Fitr (Feast of Breaking the Fast).
Meanwhile, the Egyptian Exchange’s indices were wavering in green notes during closing session of Thursday, except for EGX30.
Indices
Egypt’s benchmark index EGX30 ended 1.04 per cent higher to 8826.28 pts; while EGX20 finished 0.39 per cent up to 10515.58 pts.
In addition, the mid- and small-cap index, the EGX70 hiked by 0.91 per cent to finish at 628.22 pts. The price index EGX100 inched up by 0.83 per cent to conclude at 1108.77 pts.
Furthermore, the market capitalization recorded EGP 501.058 billion on Thursday.
Turnovers Remain above EGP One billion
Through the closing session of Thursday, the trading volume has reached 196.186 million securities, with turnovers worth EGP 1.324 billion, exchanged through 27.471 transactions.
Also during the closing session, 183 listed securities have been traded in; 49 declined, 109 advanced; while 24 kept their previous levels.
Investors’ Activities
The non-Arab foreign investors were net buyers on Thursday capturing 33.72% of the total market, with a net equity of EGP 609.165 million, excluding the deals.
On the contrary, local and Arab investors were net sellers seizing 64.18% and 2.1% respectively of the total markets, with a net equity of EGP 603.754 million and EGP 5.411 million respectively, excluding the deals.
