Foreign investors lift Egypt stocks as market reopens after Eid

Egypt’s stock market surged Monday with gains worth 1.1 billion Egyptian pounds (US$140.5 million) backed by foreign investors’ buying appetite after a long Eid al-Adha holiday.

The market capitalisation has recorded 449.420 billion pounds during the closing session of Monday.

Indices

Egypt’s benchmark index, EGX30 grew 0.85 percent to 7409.06 points.

The newly-launched EGX50 EWI index went up 0.27 percent to 1222.68 points.

EGX20 also hiked 0.44 percent to 7002.83 points.

In addition, the mid- and small-cap index EGX70 edged up 0.37 percent to 393.89 points. The price index, EGX100 rose 0.06 percent to 847.14 points.

Turnovers near 1 billion pounds

On Monday, the bourse’s trading volume has hit 179.049 million securities, with turnovers closed at 928.417 million pounds, exchanged through 14,110 thousand transactions.

Also during the closing session, 162 listed securities have been traded in; 46 declined, 71 advanced; while 39 kept their previous levels.

Investors’ Activities

Arab and non-Arab foreign investors were net buyers Monday capturing 4.03 and 13.37 percents respectively of the total markets, with a net equity of 10.342 million and 14.938 million pounds, respectively, excluding the deals.

On the contrary, local investors were net sellers seizing 82.57 percent of the total market, with a net equity of 25.281 million pounds, excluding the deals.