Egypt Stocks Gain EGP6bn on Wednesday, EGX30 Jumps 2.1%

Egypt’s stocks closed Wednesday remarkably higher with gains totalling 6 billion Egyptian pounds backed by strong buyout of foreign investors. The country’s main stock index, EGX30 jumped at end of trade, crossing 8810 points.

Indices

Egypt’s benchmark index EGX30 ended 2.07 per cent higher to 8811.88 pts; and EGX20 finished 1.95 per cent up to 10109.26 pts.

In addition, the mid- and small-cap index, the EGX70 surged by 1.63 per cent to finish at 595.31 pts. The price index EGX100 hiked by 1.14 per cent to conclude at 1077.88 pts.  
Furthermore, the market capitalization recorded EGP 495.921 billion on Wednesday.

Turnovers still below EGP One billion
Through the closing session of Wednesday, the trading volume has reached 157.970 million securities, with turnovers worth EGP 729.693 million, exchanged through 26.461 transactions.               
Also during the closing session, 180 listed securities have been traded in; 32 declined, 123 advanced; while 22 kept their previous levels.

Investors’ Activities

Arab and the non-Arab foreign investors remained net buyers on Wednesday capturing 6.39% and 12.76% respectively of the total markets, with a net equity of 13.998 million and EGP 45.785 million, respectively, excluding the deals.

On the other hand, local investors were net sellers seizing 80.86% of the total market, with a net equity of EGP 59.783 million, excluding the deals.