Stocks inch up on First Day of Ramadan

Bourse traded higher Thursday, the first day of the Muslim holy month of Ramadan, posting gains worth 1.4 billion Egyptian pounds (US$183.5 million).

The Egyptian Exchange’s management announced that trading hours during Ramadan to start at 10:00 a.m. (8:00 GMT) and close at 1:30 p.m. (11:30 GMT).

The market capitalisation has registered 490.129 billion pounds during the closing session of Thursday.

Indices

The benchmark index, EGX30 inched up by 0.24 percent to 8576.71 points. EGX20 also increased by 0.32 percent to 8780.05 points.

In addition, the mid- and small-cap index EGX70 grew by 0.66 percent to 457.12 points.

The price index, EGX100 hiked by 0.91 percent to 962.87 points.

Turnovers

On Thursday, the first day of Ramadan, which usually causes a slowdown in trading activity, the bourse’s trading volume has reached 77.649 million securities, with turnovers closed at 352.539 million pounds, exchanged through 12.516 thousand transactions.

Also during the closing session, 150 listed securities have been traded in; 47 declined, 65 advanced; while 36 kept their previous levels.

Investors’ Activities

The non-Arab foreign investors were net buyers Thursday capturing 34.83% of the total market, with a net equity of EGP 28.450 million, excluding the deals.

On the contrary, local and Arab investors were net sellers seizing 56.52% and 8.65% respectively of the total markets, with a net equity of EGP 15.732 million and EGP 12.718 million, respectively, excluding the deals.