Egypt’s stocks end week higher with $448mn gains

Egypt’s stock market surged Thursday with gains worth 3.6 billion Egyptian pounds (US$448.5 million). Main index climbed 1.23 percent to end at 7541.72 points, as real estate developer Talaat Mostafa surged 5.9 percent and Palm Hills Development added 6.1 percent.

Market capitalisation has recorded 452.308 billion pounds during the closing session of Thursday.

Indices

EGX50 EWI index edged higher 1.66 percent to 1272.39 points.

EGX20 hiked 2.09 percent to 7322.48 points.

In addition, the mid- and small-cap index EGX70 grew 1.54 percent to 397.33 points. The price index, EGX100 rose 1 percent 852.52 points.

Turnovers high

On Thursday, the bourse’s trading volume has hit 275.655 million securities, with turnovers closed at 1.363 billion pounds, exchanged through 19,694  transactions.

Also during the closing session, 169 listed securities have been traded in; 24 declined, 110 advanced; while 30 kept their previous levels.

Investors’ Activities

Arab investors were net buyers Thursday getting 4.67 percent of the total market, with a net equity of 61.084 million pounds, excluding the deals.

On the contrary, local and foreign investors were net sellers seizing 90.55 percent and 4.77 percent respectively of the total markets, with a net equity of 31.992 million pounds and 29.092 million pounds, respectively, excluding the deals.