Ahead of EGX Board Meeting, Shares Gain EGP443 mln at Open

Egypt’s stocks opened higher on Tuesday posting gains of EGP 443 million bolstered by local and Arab buyers.  Accordingly, the benchmark rallied to cross 5250 pts.

The Egyptian Exchange’s indices were wavering in green notes during the opening session of Tuesday.

Benchmark EGX30 went up by 0.15% to 5252.54 p; while EGX20 rose by 0.32% to 6119.89 p.

On the other hand, the mid- and small-cap index, the EGX70 increased by 0.21% to 444.78 p.  Price index EGX100 edged up by 0.26% to 750.46 p.

The capital market has reached EGP 354.169 billion during the opening session of Tuesday, according to data compiled by Amwal Al Ghad English at 11:19 a.m. Cairo time (09:19 GMT).

Trading Volumes & Values

The trading volume has recorded 11.230 million securities worth EGP 30.906 million, exchanged through 1993  transactions during Tuesday opening.

Also during the opening session, 92 listed securities have been traded in; 11 fell, 51 advanced; while 30 keeping their previous levels.

Investors’ Activity

Egyptians and Arabs’ buying transactions have backed EGX’s early gains as they were net buyers seizing 89.91% and 3.33% respectively, of the total market, with net equities of 1.600 million and EGP 940.132 thousand, excluding the deals.

Meanwhile, the non-Arab foreigners were net sellers seizing 6.76% of the total market, with a net equity of EGP 2.541 million, excluding the deals.