Egypt Stocks Open Higher, EGX30 Nears 9660

Egypt’s stocks opened higher on Wednesday with gains of 750 million Egyptian pounds triggered by local and Arab investors’ buying appetite. Accordingly, the country’s main stock index, EGX30 kicked off trading above 9655 points.

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

Indices

The Benchmark EGX30 surged by 0.38% to 9659.79 p, and EGX20 rose by 0.35% to 11593.52 p.

In addition, the mid- and small-cap index, the EGX70 went up by 0.24% to 668.26 p.  Price index EGX100 grew by 0.12% to 1187.66 p.

Furthermore, market capitalization reached EGP 529.544 billion, according to data compiled by Amwal Al Ghad English at 11:23 a.m. Cairo time (09:23 GMT).

Trading Volumes & Values

The trading volume has reached 64.463 million securities worth EGP 225.459 million, exchanged through 6698 transactions during Wednesday opening.

Also during the opening session, 119 listed securities have been traded in; 49 fell, 37 advanced; while 33 keeping their previous levels.

Investors’ Activities

Local and Arab investors were net buyers at early trade acquiring 75.51% and 7.2% respectively of the total markets, with a net equity of EGP 3.122 million and EGP 3.810 million, excluding the deals.

On the other hand, the non-Arab foreign investors were net sellers seizing 17.29% of the total market, with a net equity of EGP 6.932 million, excluding the deals.