Egypt stock market hits 13-month high

Stocks in Egypt climbed fresh multi-month highs on Wednesday backed by local and Arab investors’ buying appetite. Main index, EGX30 edged up 1.12 percent, to 8291.51 points, a 13-month closing high.

Other indices; EGX50 EWI index gained 0.99 percent, to 1428.23 points; EGX20 rose 1.07 percent, to 8514.43 points.

Mid- and small-cap index EGX70 added 0.35 percent, to 362.16 points. Price index, EGX100 picked up 0.43 percent, to 802.97 points.

Market Cap

Market capitalisation gained 3 billion Egyptian pounds ($339 million), to record 419.952 billion pounds during the closing session of Wednesday.

Turnovers doubled

The bourse’s trading volume reached 407.107 million securities, with turnovers, closing at 1.328 billion pounds, exchanged through 28,293 transactions.

Also during the closing session, 170 listed securities have been traded in, 47 declined, 93 advanced; while 28 kept their previous levels.

Investors’ Activities

Local investors and Arab investors were net buyers controlling 75.14 and 8.89 percent respectively of the total markets, with a net equity of 78.608 million pounds and 59.085 million pounds, respectively, excluding the deals.

On the contrary, non-Arab foreign investors were net sellers capturing 15.97 percent of the total market, with a net equity of 137.694 million pounds, excluding the deals.