As New Cabinet Sworn in, Egypt Stocks Gain EGP2.8 billion at Open

Egyptian stocks started trading higher this week with gains worth 2.8 billion pounds as the country’s new cabinet have sworn in.

Accordingly, the Egyptian main stock index opened this week higher to cross 8160 points at early trading.

The Egyptian Exchange indices were wavering in green notes during opening trading session of Sunday.

The Benchmark EGX30 increased by 0.45% to 8163.69 p; EGX20 also hiked by 0.47% to 9811.43 p.

Additionally, the mid- and small-cap index, the EGX70 rose by 0.62% to 655.25 p.  Price index EGX100 went up by 0.49% to 1124.54 p.

Furthermore, market capitalization reached EGP 494.668 billion, according to data compiled by Amwal Al Ghad English at 11:11 a.m. Cairo time (09:11 GMT).

Trading Volumes & Values

The trading volume has recorded 56.333 million securities worth EGP 133.101 million, exchanged through 4537 thousand transactions during Sunday opening.

Also during the opening session, 107 listed securities have been traded in; 24 fell, 59 advanced; while 24 keeping their previous levels.

Investors’ Activities

Arabs were net buyers 8.93% of the total market, with a net equity of EGP 8.681 million, excluding the deals.

On the contrary, Egyptians and the non-Arab foreigners were net sellers seizing 89.39% and 1.68% respectively of the total markets, with a net equity of 8.504 million and 176.660 thousand respectively, excluding the deals.