Egyptian Exchange ends week posting $1.6bn gains

Egyptian stocks ended the week higher with gains estimated at 12.8 billion Egyptian pounds (US$1.6 billion), rebounding after rate cuts and fresh stimulus measures by China’s central bank

The market capitalisation has reached 437.685 billion pounds during the closing session of Thursday.

Indices

Egypt’s benchmark index, EGX30 rose by 2.99 percent to 7078.83 points.

The newly-launched EGX50 EWI index climbed 3.52 percent to 1213.87 points.

EGX20 edged higher by 3.45 percent to 6873.41 points.

In addition, the mid- and small-cap index EGX70 soared 3.58 percent to 387.06 points. The price index, EGX100 surged by 2.71 percent to 824.95 points.

Turnovers up

On Thursday, the bourse’s trading volume has hit 203.470 million securities, with turnovers closed at EGP 585.383 million, exchanged through 21,800 thousand transactions.

Also during the closing session, 174 listed securities have been traded in; 9 declined, 134 advanced; while 26 kept their previous levels.

Investors’ Activities

Local and Arab investors were net sellers on Thursday seizing 86.86% and 5.79% respectively of the total markets, with a net equity of EGP 377,173 thousands and EGP 5.118 million, respectively, excluding the deals.

On the contrary, the foreign investors were net buyers getting 7.34% of the total market, with a net equity of EGP 5.495 million, excluding the deals.