EGX 30 Hits 4355.37 Pts, OTMT 9.63% Up Amid Election Elections Announcement

As the Higher Presidential Election Commission (HPEC) announced yesterday Dr. Mohamed Morsi as the new Egyptian president,  the Egyptian Exchange (EGX) had posted early gains amounted to EGP 8.72 billion the capital market has reached EGP 319.311 billion according to data compiled by Amwal Al Ghad as of 9:00 GMT (11:00 local time).

Islamist Mohamed Morsi of the Muslim Brotherhood was elected president of Egypt with 51.7 percent of last weekend’s run-off vote, defeating former general Ahmed Shafiq, the state election committee said on Sunday.

He succeeds Hosni Mubarak, who was overthrown 16 months ago after a popular uprising. The military council which has ruled the biggest Arab nation since then has this month curbed the powers of the presidency, meaning the head of state will have to work closely with the army on a planned democratic constitution.

The main index, EGX30 jumped 4.54% to hit 4355.37 p.  EGX20 climbed 5.48% to reach 5005.02 p.

Meanwhile, the mid- and small-cap index, the EGX70 soared 3.28% to hit 398.02 p. Price index EGX100 surged 3.27% to 674.52 p.

Traded volume reached 9.918 million securities worth EGP 36.675 million, exchanged through 2.237  thousand transactions.

This was after trading in 116 listed securities; 1 declined and 111 advanced while 4 keeping their previous levels.

Egyptians and Arabs were net buyers seizing 63.9% and 10.52% respectively, of the total markets, with a net equity of EGP 2.299 million and EGP 2.486 million excluding the deals.

On the other hand, the non-Arab Foreigners were net sellers seizing 25.58% of the total markets, with a net equity of EGP 187.221 thousand excluding the deals

Leading Shares:  

EGX’s leading shares witnessed collective upwards led by shares of Orascom Telecom Media & Technology Holding (OTMT.CA) which soared 9.63% to hit  EGP 1.48. Shares owned by Shares of Orascom Telecom Holding (OTH) (ORTE.CA) jumped 7.27% to reach EGP 2.95. Shares of Commercial International Bank- Egypt (CIB) (COMI.CA) climbed 6.28% to hit EGP 23.68.

Additionally, shares of Shares owned by Orascom Construction Industries (OCIC.CA) edged up 4.93% to reach EGP 232.41. Shares of EFG-Hermes Holding (HRHO.CA) surged 4.90% reach EGP 9.85.

Leave a comment