EGX 30 Ends Sunday Near 5395 Pts, OTMT Surges 2.74%

The Egyptian Exchange (EGX) has ended Sunday’s session posting gains of EGP 1.7 billion backed by local buyers.The capital market has reached to EGP 368.946 billion during Sunday’s closing session.

The EGX indices ended Sunday in green notes.

Egypt’s benchmark index EGX30 went up by 0.55% to close at 5394.98 p; while EGX20 rose by 0.68% to end at 6340.13 p.

Meanwhile, the mid- and small-cap index, the EGX70 surged by 0.90% to conclude at 461.01 pts.  Price index EGX100 inched up by 0.64% to finish at 776.25 p.

During Sunday’s closing, the trading volume hit 86.920million securities, less than Thursday’s 100.105 million securities, representing a decrease of 13.185 thousand securities. For the traded value, it reached EGP 193.955 million, exchanged 13.752 thousand transactions.

This was after trading in 159 listed securities; 23 declined, 105 advanced; while 31 keeping their previous levels.

Local buying transactions have backed EGX’s closing gains as they were net buyers seizing 96.19% of the total markets, with a net equity of EGP 14.463 million excluding the deals.

Meanwhile, the non-Arab foreigners and Arabs were net sellers seizing 2.54% and 1.27% respectively, of the total markets, with a net equity of EGP 5.427 million and EGP 9.035 million excluding the deals.

Orascom Telecom Media And Technology Holding SAE (OTMT.CA) climbed by 2.74% to end at EGP 0.75.

EFG-Hermes’ stock inched up by 0.09% to close at EGP 11.13.

On the other hand, Orascom Construction Industries – OCI (OCIC.CA)’s stock fell by 0.30% to EGP 248.84 ahead of the upcoming meeting with the Egyptian Tax Authority on Sunday.

OCI N.V.’s subsidiary, Orascom Construction Industries, announced that it has received notification from the Egyptian Tax Authority (ETA) to discuss the alleged tax claim against the Company on Sunday 10 March 2013. The Tax Authority confirmed on Thursday its keenness to reconcile with OCI through reaching a compromise.