Egypt’s stocks closed higher on Tuesday posting remarkable gains totaled EGP 7.7 billion, spurred by the news that possible diplomatic solutions could be reached to Syria conflict. The main gauge jumped to exceed 5400 pts.
It was reported that the U.S. and Russia agreed on Monday on the latter’s proposal for putting Syria’s chemical weapons under international control, which may delay for the time being the possible military action.
The Egyptian Exchange indices were wavering in green notes during the closing session of Tuesday.
Egypt’s benchmark index EGX30 jumped by 3.11% to close at 5408.22 pts; while the EGX20 soared by 3.04% to end at 6275.36 p.
Meanwhile, the mid- and small-cap index, the EGX70 pushed up by 2.35% to conclude at 460.67 p. The price index EGX100 surged by 2.25% to finish at 774.15 p.
The capital market has closed at EGP 364.662 billion on Tuesday.
Traded Volumes & Trades Doubled
Through the closing session of Tuesday, the trading volume has reached 192.658 million securities. For the traded value, it hit EGP 613.159 million, exchanged through 30.752 thousand transactions.
Also during the closing session, 176 listed securities have been traded in; 11 declined, 149 advanced; while 16 keeping their previous levels.
Egyptians and Arabs backed EGX’s gains as they were net buyers seizing 77.88% and 8.03% respectively, of the total market, with net equities of EGP 17.730 million and EGP 6.941 million, excluding the deals.
Meanwhile, the non-Arab foreigners were net sellers seizing 14.09% of the total market, with a net equity of EGP 24.672 million, excluding the deals.