Despite Sectarian Violence, EGX 30 Surges Above 5080 Pts – Midday
Despite the most recent sectarian violence erupted in the country, the Egyptian Exchange (EGX) has managed to post midday gains of around EGP 2.1 billion backed by foreign buying transactions.
The capital market has amounted to EGP 352.150 billion, according to data compiled by Amwal Al Ghad English at 12:31 p.m. Cairo time (10:31 GMT) during Monday’s midday session.
The EGX indices were in green notes during midday session.
Benchmark EGX30 inched up by 0.96% to 5081.23 p; while EGX20 rose by 0.59% to 5839.72 p.
Meanwhile, the mid- and small-cap index, the EGX70 climbed by 1.11% to 438.13 p. Price index EGX100 advanced by 0.96% to 732.86 p.
During Monday’s midday session, the trading volume has reached 44.730 million securities worth EGP 159.405 million, exchanged through 8.421 transactions.
This was after trading in 134 listed securities; 20 declined, 60 advanced; while 54 keeping their previous levels.
Arabs and non-Arab foreigners’ buying transactions have backed EGX’s opening gains as they were net buyers seizing 2.65% and 40.2% respectively, of the total markets, with a net equity of EGP 3.249 million and EGP 5.930 million, excluding the deals.
Meanwhile, Egyptians were net sellers seizing 57.16% of the total markets, with a net equity of EGP 9.179 million excluding the deals.
Sectarian Violence:
Police and armed civilians have laid siege to the seat of the Coptic church in Cairo, killing one person and injuring at least 21, as a funeral for four Christians killed in sectarian clashes on Saturday descended into chaos.
Thousands of mourners were attacked as they tried to leave Egypt’s largest cathedral, forcing them back inside the cathedral precinct and sparking a siege that lasted all afternoon and stretched into the night. Police fired teargas over the cathedral walls and stood by as unknown men armed with birdshot, knives and petrol bombs scaled nearby buildings to attack those inside the church grounds.
On Saturday, at least four Christians and one Muslim were killed in sectarian clashes that broke out north of Cairo after children allegedly drew a swastika on Islamic property. On Sunday Christians gathered in Cairo to remember the dead in a service that ended by further escalating sectarian tensions.
