Egypt Stocks Gain EGP2.7 billion at Open on Foreign Buying Appetite

Egypt’s stocks opened higher on Monday posting gains at value of 2.7 billion Egyptian pounds triggered by foreign investors’ buying appetite. Accordingly, the country’s main stock index, EGX30 climbed at early trade to hover around 9200 points level.

Meanwhile, the Egyptian Exchange (EGX)’s indices were wavering in green notes during the opening session of Monday.

Indices

The Benchmark EGX30 tumbled by 0.90% to 9199.07 p, and EGX20 went up by 0.78% to 11020 p.

In addition, the mid- and small-cap index, the EGX70 rose by 0.38% to 635.4 p.  Price index EGX100 increased by 0.47% to 1129.88 p.

Furthermore, market capitalization reached EGP 511,335 billion, according to data compiled by Amwal Al Ghad English at 11:08 a.m. Cairo time (09:08 GMT).

Trading Volumes & Values

The trading volume has reached 29,774 million securities worth EGP 100,223 million, exchanged through 4646 transactions during Monday opening.

Also during the opening session, 107 listed securities have been traded in; 15 fell, 73 advanced; while 19 keeping their previous levels.

Investors’ Activities

Arab and the non-Arab foreign investors were net buyers at early trade capturing 4.1% and 6.32% respectively of the total markets, with a net equity of EGP 3,045 million and EGP 7,438 million, excluding the deals.

On the other hand, local investors were net sellers at early trade seizing 89.58% of the total market, with a net equity of EGP 10.483 million, excluding the deals.