Cairo bourse up as global markets firm on bets Britain to stay in EU

Egyptian stock market surged on Thursday coinciding with an upward trend in global bourses after a series of late opinion polls favoured Britain staying in the European Union.

Egypt’s main index EGX30 climbed 1.35 percent, to 7253.31 points.

During Ramadan, the trading sessions start at 10 a.m. Cairo Local Time (8:00 GMT) and end at 1:30 p.m. (11:30 GMT), reducing trading hours by one hour.

Other indices; EGX50 EWI index gained 1.23 percent, to 1285.6 points; while EGX20 grew 1.37 percent, to 7328.59 points.

Mid- and small-cap index EGX70 edged up 0.51 percent, to 348.04 points. Price index, EGX100 rose 0.75 percent, to 746.8 points.

Market Caps

Market capitalisation posted gained 3.3 billion Egyptian pounds ($393.8 million), to record 392.667 billion pounds during the closing session of Thursday.

Turnovers

The bourse’s trading volume reached 105.765 million securities, with turnovers, closing at 421.945 million pounds, exchanged through 12,443 transactions.

Also during the closing session, 164 listed securities have been traded in, 27 declined, 92 advanced; while 40 kept their previous levels.

Investors’ Activities

Local and Arab investors were net buyers controlling 80.13 and 6.49 percent respectively of the total markets, with a net equity of 2.868 million pounds and 224,346 pounds, respectively, excluding the deals.

On the contrary, non-Arab foreign investors were net sellers capturing 13.38 percent of the total market, with a net equity of 3.089 million pounds, excluding the deals.