Egypt Stocks Gain EGP3.3 billion at Open, EGX30 Surges

Egypt’s stocks kicked off trading higher on Wednesday with early gains worth 3.3 billion Egyptian pounds as local and Arab investors returned to buying appetite. In return, the country’s main stock index, EGX30 returned to green above 8980 points.

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

Indices

The Benchmark EGX30 climbed by 1.19% to 8984.1 p. In addition, EGX20 surged by 1.46% to 10402.84 p.

The mid- and small-cap index, the EGX70 also grew by 0.34% to 599.74 p.  Price index EGX100 also increased by 0.45% to 1098.19 p.

Furthermore, market capitalization reached EGP 502.373 billion, according to data compiled by Amwal Al Ghad English at 10:57 a.m. Cairo time (08:57 GMT).

Trading Volumes & Values

The trading volume has reached 22.572 million securities worth EGP 82.172 million, exchanged through 3677 transactions during Wednesday opening.

Also during the opening session, 103 listed securities have been traded in; 11 fell, 60 advanced; while 32 keeping their previous levels.

Investors’ Activities

Local and Arab investors were net buyers at early trade attaining 72.29% and 8.08% respectively of the total markets, with a net equity of EGP 5.757 million and EGP 4.127 million, excluding the deals.

On the other hand, the non-Arab foreign investors were net sellers seizing 19.63% of the total market, with a net equity of EGP 9.885 million, excluding the deals.