As Precautionary Measures Removed, Egypt Stocks End Week Higher

Egypt’s bourse ended this week higher with gains totalling 3.2 billion Egyptian pounds in the light of cancelling some precautionary measures and the strong buying appetite of non-Arab foreign investors. In addition, the country’s main stock index, EGX30 closed above 9150 points on Thursday.

The EGX management announced on Thursday starting the price discovery session and unifying price limit at 10% for the official market and 5% for the Nile Stock Exchange (NILEX).

Meanwhile, the Egyptian Exchange’s indices were wavering in green notes during closing session of Thursday.

Indices

Egypt’s benchmark index EGX30 ended 1.16 per cent higher to 9152.95 pts; while EGX20 finished 1.29 per cent up to 10999.36 pts.     
In addition, the mid- and small-cap index, the EGX70 hiked by 0.56 per cent to finish at 632.84 pts. The price index EGX100 went up by 0.49 per cent to conclude at 1125.47 pts.  
Furthermore, the market capitalization recorded EGP 510.003 billion on Thursday.

Turnovers Exceed EGP One billion
Through the closing session of Thursday, the trading volume has reached 263.807 million securities, with turnovers worth EGP 1.044 billion, exchanged through 31.738 transactions.               
Also during the closing session, 186 listed securities have been traded in; 66 declined, 90 advanced; while 28 kept their previous levels.

Investors’ Activities

The non-Arab foreign investors were net buyers on Thursday capturing 16.15% of the total market, with a net equity of EGP 79.380 million, excluding the deals.

On the other hand, local and Arab investors were net sellers seizing 77.49% and 6.36% respectively of the total markets, with a net equity of EGP 52.403 million and EGP 26.976 million respectively, excluding the deals.