Egyptian Stocks Gain EGP5bn at Open as Locals Buy

Egypt’s stocks opened on Tuesday with early remarkable gains worth around 5 billion Egyptian pounds backed by local investors’ strong buying appetite. Accordingly, the country’s main stock index, EGX30 started trading higher to cross 9555 points.

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

Indices

The Benchmark EGX30 climbed by 1.02% to 9556.41 p. In addition, EGX20 inched up by 1.23% to 11117.23 p.

The mid- and small-cap index, the EGX70 also rose by 0.03% to 633.87 p.  Price index EGX100 increased by 0.39% to 1148.95 p.

Furthermore, market capitalization reached EGP 534.584 billion, according to data compiled by Amwal Al Ghad English at 11:15 a.m. Cairo time (09:15 GMT).

Trading Volumes & Values

The trading volume has reached 67.395 million securities worth EGP 348.570 million, exchanged through 7512 transactions during Tuesday opening.

Also during the opening session, 126 listed securities have been traded in; 31 fell, 69 advanced; while 26 keeping their previous levels.

Investors’ Activities

Local investors were net buyers at early trade capturing 84.69% of the total market, with a net equity of EGP 31.795 million, excluding the deals.

On the other hand, Arab and the non-Arab foreign investors were net sellers seizing 6.38% and 8.93% respectively of the total markets, with a net equity of EGP 10.949 million and EGP 20.846 million, excluding the deals.