As Referendum on New Constitution Kicks off, EGX 30 Crosses 6885 at Close

Egyptian stocks closed higher on Wednesday attaining gains totaled EGP 2.8 billion as Egyptian expatriates have started voting on the country’s new draft constitution. The expatriates voting shall be until January 12th.

Accordingly, the benchmark index climbed by 1.3% today powered by Arab buying appetite.

The stocks have resumed trading today after one-day halt on occasion of Egyptian Christians’ Christmas.

The Egyptian Exchange (EGX) indices were wavering in green notes on Wednesday afternoon.

Egypt’s benchmark index EGX30 ended 1.27 per cent higher to 6887.48 pts, and EGX20 also finished 1.59 per cent up to 8032.36 pts.     
Meanwhile, the mid- and small-cap index, the EGX70 hiked by 0.88% to close at 554.09 pts. The price index EGX100 increased by 0.95 per cent to conclude at 939.73 pts.  
The capital market has closed at EGP 432.290 billion on Wednesday afternoon.

Through the closing session of Wednesday, the trading volume has reached 266.199 million securities. For the traded value, it hit EGP 713.478 million, exchanged through 33.617 thousand transactions.           

Also during the closing session, 185 listed securities have been traded in; 45 declined, 116 advanced; while 24 keeping their previous levels.

Investors’ Activities

Arabs were net buyers acquiring 5.19% of the total market, with a net equity of EGP 15.585 million, excluding the deals.

On the contrary, Egyptians and the non-Arab foreigners were net sellers seizing 87.07% and 7.74% respectively of the total markets, with a net equity of EGP 15.578 million and 6.487 thousand respectively, excluding the deals.