Constitution Vote Day Two, Egypt Shares Gain EGP2 bln at Open

As voting on post-Morsi military-backed constitutional referendum continues nationwide for the second day, Egyptian stocks opened higher on Wednesday posting early gains worth EGP 2 billion. Powered by local and Arab buying appetite, the benchmark index starts trading above 7230 points.

The Benchmark EGX30 went up by 0.50% to 7232.18 p; while EGX20 also hiked by 0.72% to 8518.84 p.

Additionally, the mid- and small-cap index, the EGX70 rose by 0.58% to 572.37 p.  Price index EGX100 increased by 0.47% to 970.13 p.

The capital market has opened Wednesday’s sessions at EGP 445.296 billion, according to data compiled by Amwal Al Ghad English at 11:03 a.m. Cairo time (09:03 GMT).

Trading Volumes & Values

The trading volume has recorded 18.811 million securities worth EGP 58.942 million, exchanged through 2662 transactions during Wednesday opening.

Also during the opening session, 106 listed securities have been traded in; 33 fell, 51 advanced; while 22 keeping their previous levels.

Investors’ Activities

Egyptians and Arabs were net buyers seizing 83.73% and 10.95% respectively of the total markets, with a net equity of 514.772 thousand and 634.160 thousand respectively, excluding the deals.

On the contrary, the non-Arab foreigners were net sellers acquiring 5.32% of the total market, with a net equity of EGP 1.148 million, excluding the deals.