EGX 30 Ends Near 4900 Pts Ahead of ASEA’s 16th Annual Conference

During Sunday closing session, the Egyptian Exchange (EGX) has pared its opening gains to eventually reach EGP 3.7 billion as the capital market has amounted to EGP 343.096 billion.

The EGX indices closed in green.

The main index, EGX30 surged by 1.81% to end at 4894.64 p. EGX20 edged up by 1.53% to close at 5622.44 p.

Meanwhile, the mid- and small-cap index, the EGX70 climbed by 1.29% to conclude at 434.58 p.  Price index EGX100 rose by 1.73% to finish at 726.74 p.

Traded volume reached 86.583 million securities worth EGP 199.757 million, exchanged 15.801 thousand transactions.

This was after trading in 165 listed securities; 24 declined, 116 advanced; while 25 keeping their previous levels.

EGX’s gains were backed by Arabs and non-Arab Foreigners’ buying deals as they were net buyers seizing 8% and 13.7% respectively, of the total market, with a net equity of EGP 6.749 million and EGP 9.219 million, excluding the deals.

On the other hand, Egyptians and were net sellers seizing 78.3% of the total markets, with a net equity of EGP 2.470 million excluding the deals.

The 16th Annual General Meeting and Flagship Conference of the African Securities Exchanges Association (ASEA) for the year 2012 will launch on Monday in Cairo on 2-4 December 2012 at the Four Seasons Hotel. The ASEA Annual Conference of this year is hosted by the Egyptian Exchange.

The focus of the Annual Conference of this year is on “Unleashing Africa’s Investment Potential – What Could Be Done By African Capital Markets?”

Egypt’s Prime Minister Hisham Kandil will kick off on Monday the Annual Conference with the participation of Sunil Benimadhu – President of the African Securities Exchanges Association (ASEA), Dr. Mohamed Omran – the EGX Chairman, and Osama Saleh, Egypt’s Minister of Investment.

“This is the 2nd time EGX welcomes its fellow members of ASEA to Egypt & hosts the annual meeting. We are looking forward to meeting old friends and colleagues in this conference to discuss means of developing the African markets. Hoping the outcome of the conference would be fruitful to all parties.” EGX Chairman Mohamed Omran said