Egypt stocks rebound Monday on foreign buying appetite

Egypt’s stocks have closed higher Monday registering gains worth 523 million Egyptian pounds (US$65 million) backed by foreign buying appetite.

Market capitalisation recorded 449.010 billion pounds during the closing session of Monday

Indices

Egypt’s benchmark index, EGX30 rebounded 0.29 percent to 7434.69 points.

The newly-launched EGX50 EWI index went up 0.18 percent to 1250.88 points.

EGX20 rose 0.16 percent to 7160.63 points.

In addition, the mid- and small-cap index EGX70 inched higher 0.25 percent to 391.19 points. The price index, EGX100 grew 0.19 percent 844.85 points.

Turnovers surge

On Monday, the bourse’s trading volume has hit 187.971 million securities, with turnovers closed at 1.343 billion pounds, exchanged through 12,582 transactions.

Also during the closing session, 166 listed securities have been traded in; 54 declined, 60 advanced; while 44 kept their previous levels.

Investors’ Activities

Arab and non-Arab foreign investors were net buyers Monday capturing 1.39 percent and 5.84 percent, respectively of the total markets, with a net equity of 10.914 million pounds and 26.986 million pounds, respectively, excluding the deals.

On the contrary, local investors were net sellers seizing 92.77 percent of the total market, with a net equity of 37.900 million pounds, excluding the deals.