Egyptian Stocks Start Bullish, EGX30 Crosses 9470 at Early Trade

Egypt’s stocks opened higher on Wednesday with 2.7 billion Egyptian pounds gains propelled by local and non-Arab foreign investors’ optimism towards the Suez canal development project. Accordingly, the country’s main stock index, EGX30 kicked off trading above 9470 points.

The Egyptian Exchange (EGX)’s indices were wavering in green notes during the opening session of Wednesday.

Indices

The Benchmark EGX30 hiked by 0.83% to 9473.69 p, and EGX20 inched up by 1.06% to 11373.95 p.

In addition, the mid- and small-cap index, the EGX70 climbed by 1.34% to 666.93 p.  Price index EGX100 surged by 1.35% to 1188.43 p.

Furthermore, market capitalization reached EGP 522.551 billion, according to data compiled by Amwal Al Ghad English at 11:28 a.m. Cairo time (09:28 GMT).

Trading Volumes & Values

The trading volume has reached 75.482 million securities worth EGP 700.644 million, exchanged through 10.933 transactions during Wednesday opening.

Also during the opening session, 134 listed securities have been traded in; 28 fell, 73 advanced; while 32 keeping their previous levels.

Investors’ Activities

Local and the non-Arab foreign investors were net buyers acquiring at early trade 90.68% and 5.69% respectively of the total markets, with a net equity of EGP 21.445 million and EGP 11.051 million, excluding the deals.

On the other hand, Arab investors were net sellers seizing 3.63% of the total market, with a net equity of EGP 32.496 million, excluding the deals.