Egypt stocks start 2016 in green notes with US$306m gains

Egyptian stock market closed higher on the first trading day of 2016 with gains estimated at 2.4 Egyptian pounds (US$306 million) on Arab buying appetite.

The market capitalisation reached 432.235 billion pounds during the closing session of Sunday.

Indices

Egypt’s benchmark index, EGX30 climbed 1.19 percent to 7089.06 points.

The EGX50 EWI index inched higher 0.92 percent to 1211.54 points

EGX20 increased 0.58 percent to 7115.97 points.

In addition, the mid- and small-cap index EGX70 surged 1.33 percent to 383.71 points. The price index, EGX100 hiked 0.72 percent to 769.29 points.

Turnovers up

On Sunday, the bourse’s trading volume has recorded 137.174 million securities, with turnovers closed at 345.150 million pounds, exchanged through 17,014 thousand transactions.

Also during the closing session, 161 listed securities have been traded in; 22 declined, 90 advanced; while 47 kept their previous levels.

Investors’ Activities

Local and foreign investors were net sellers on Sunday seizing 83.79 percent and 6.29 percent respectively of the total markets, with a net equity of 9.714 million pounds and 22.911 million pounds, respectively, excluding the deals.

On the contrary, the Arab investors were net buyers getting 9.92 percent of the total market, with a net equity of 32.625 million pounds, excluding the deals.