Egyptian shares surge on second day of Ramadan trade

Egyptian stock markets surged on Tuesday as main index EGX30 climbed 1.02 percent with the second day of the Muslim holy month of Ramadan.

During Ramadan, the trading sessions start at 10 a.m. Cairo Local Time (8:00 GMT) and end at 1:30 p.m. (11:30 GMT), reducing trading hours by one hour.

Other indices; EGX50 EWI index inched up 0.77 percent, to 1404. 12 points; while EGX20 rose 1.36 percent, to 7933.4 points.

Mid- and small-cap index EGX70 increased 0.31 percent, to 372.5 points. Price index, EGX100 added 0.49 percent, to 791.08 points.

Market Caps

Market capitalisation gained 2.15 billion Egyptian pounds ($242 million), to record 407.397 billion pounds during the closing session of Tuesday.

Turnovers weak

The bourse’s trading volume hit 158.170 million securities, with turnovers, closing at 583.337 million pounds, exchanged through 18,336 transactions.

Also during the closing session, 161 listed securities have been traded in, 40 declined, 77 advanced; while 44 kept their previous levels.

Investors’ Activities

Local investors were net sellers capturing 71.43 percent of the total market, with a net equity of 41.154 million pounds, excluding the deals.

On the contrary, non-Arab foreign and Arab investors were net buyers controlling 20.74 and 7.83 percent respectively of the total markets, with a net equity of 33.268 million pounds and 7.885 million pounds, respectively, excluding the deals.