EGX 30 Soars 2.27%, Opens Above 6020 Pts; Wednesday

During Wednesday opening session, the Egyptian Exchange (EGX) has posted remarkable gains of EGP 6.9 billion as the capital market has amounted to EGP 413.253 billion, according to data compiled by Amwal Al Ghad at 11:00 a.m. Cairo time (09:00 GMT).

The main index, EGX30 soared by 2.27% to hit 6024.69 p.  EGX20 climbed by 2.45% to reach 7114.6 p.

Meanwhile, the mid- and small-cap index, the EGX70 rose by 0.91% to hit 574.15 pts.  Price index EGX100 surged by 1.14% to reach 945.71 p.

Traded volume reached 19.409 million securities worth EGP 51.830 million, exchanged through 2.823 thousand transactions.

This was after trading in 117 listed securities; 9 declined 105 advanced while 3 keeping their previous levels.

Egyptians and Arabs were net sellers seizing 85.78% and 5.24% respectively, of the total markets, with a net equity of EGP 1.668 million and EGP 875.953 thousand excluding the deals.

On the other hand, the non-Arab Foreigners were net buyers seizing 8.98% of the total markets, with a net equity of EGP 2.544 million excluding the deals.

Leading Shares:

EGX’s leading shares witnessed collective upwards led by the  Orascom Telecom Media & Technology Holding (OTMT.CA)’s stock which jumped by 8.62% to hit EGP 0.63.

Talaat Moustafa Group:

Talaat Moustafa Group (TMGH.CA) soared by 7.33% to reach EGP 5.86.

Citadel Capital:

Citadel Capital (CCAP.CA) climbed by 5.54% to hit EGP 4.38.

Ahmed Heikal Citadel Capital Founder and Chairman, said Tuesday the company will be injecting more investments in the African planet within the coming period. African countries such as Kenya and Mozambique enjoy key investment opportunities and political stability.

Orascom Telecom Holding:

Orascom Telecom Holding (OTH) (ORTE.CA) surged by 1.81% to reach EGP 3.93.

This was after the Group announced Tuesday its financial results posting a net profit of EGP 919 million during the first half of 2012, 81% down from a year earlier net profit of EGP 4.816 billion.

Orascom Construction Industries:

Orascom Construction Industries (OCIC.CA) climbed by 1.63% to hit EGP 301.48.

Commercial International Bank:

Commercial International Bank- Egypt (CIB) (COMI.CA) went up by 1.05% to reach EGP 34.77.

EFG-Hermes:

EFG-Hermes Holding (HRHO.CA) rose by 0.40% to reach EGP 12.55.