Egypt Stocks Rise but Gains Pared on Local, Arab Sell-offs

Egypt’s stock market shares rose on Tuesday, though gains were trimmed by local and Arab investors’ sell-offs.

The shares ended with gains totatlling 349 million Egyptian pounds (US$48.8 million). The country’s main stock index, EGX30 has crossed 9005 points.

Indices

Egypt’s benchmark index EGX30 closed 0.53 per cent higher to 9005.75 pts; while EGX20 ended 0.15 per cent up to 10133.31 pts.

Meanwhile, the mid- and small-cap index, the EGX70 inched down by 0.42 per cent to finish at 568.57 pts. The price index EGX100 rose by 0.09 per cent to conclude at 1088.39 pts.

Furthermore, the market capitalization recorded EGP 501.544 billion on Tuesday.

Turnovers below One billion Pounds
Through the closing session of Tuesday, the trading volume has reached 209.809 million securities, with turnovers worth EGP 987.332 million, exchanged through 27.342 thousand transactions.                  
Also during the closing session, 180 listed securities have been traded in; 104 declined, 43 advanced; while 28 kept their previous levels.

Investors’ Activities

The non-Arab foreign investors were net buyers on Tuesday capturing 9.43% of the total market, with a net equity of EGP 39.586 million, excluding the deals.

On the other hand, local and Arab investors were net sellers seizing 85.43% and 5.14% respectively of the total markets, with a net equity of EGP 14.226 million and EGP 25.360 million, respectively, excluding the deals