Egypt stocks end higher, EGX30 adds 0.74%

Egypt’s stock market ended higher on Tuesday but foreign investors were net sellers by a large margin for a second straight day because of speculation that a major currency devaluation could be imminent, given the Egyptian pound’s plunge in the black market.

Main index, EGX30 added 0.74 percent, to 8447.76 points.

Other indices; EGX50 EWI index climbed 1.02 percent, to 1332.98 points; EGX20 surged 1.29 percent, to 8415.51 points.

Mid- and small-cap index EGX70 rose 0.62 percent, to 347.03 points. Price index, EGX100 advanced 0.50 percent, to 816.29 points.

Market Cap

Market capitalisation gained 1.5 billion Egyptian pounds ($169 million), to record 414.964 billion pounds during the closing session of Tuesday.

Turnovers surge

The bourse’s trading volume reached 263.361 million securities, with turnovers, closing at 3.296 billion pounds, exchanged through 21,380 transactions.

Also during the closing session, 177 listed securities have been traded in, 43 declined, 86 advanced; while 36 kept their previous levels.

Investors’ Activities

Local investors were net buyers capturing 94.27 percent of the total market, with a net equity of 58.545 million pounds, excluding the deals.

On the contrary, non-Arab foreign and Arab investors were net sellers controlling 4.07 and 1.66 percent respectively of the total markets, with a net equity of 47.830 million pounds and 10.715 million pounds, respectively, excluding the deals.