EGX 30 Inched 0.7% Higher, Crosses 6415 at Midday

Shares in Egypt posted on Thursday midday gains of EGP 3.2 billion as the first session in deposed president Mohamed Morsi’s trial had passed without major clashes. The midday gains were backed by local and Arab net buyers. Benchmark index maintained its rally to cross 6415 points.

The trial of ousted president Mohamed Morsi had started on Monday at the Police Academy on the outskirts of Cairo, but the judge decided to adjourned the trial until January 8th; the ousted Egyptian president sent to Borg Al-Arab prison.

The Egyptian bourse has resumed its trading activities on Wednesday after one-day halt, celebrating the beginning of a new Islamic year.

The Egyptian Exchange’s indices were flourishing in green notes during Thursday midday.

The Benchmark EGX30 inched up by 0.72% to 6416.81 p; while EGX20 rose by 0.53% to 7492.58 p.

Meanwhile, the mid- and small-cap index, the EGX70 increased by 0.43% to 540.71 p.  Price index EGX100 hiked by 0.42% to 900.53 p.

The capital market has reached EGP 417.586 billion on Thursday, according to data compiled by Amwal Al Ghad English at 12:10 p.m. Cairo time (10:10 GMT).

Trading Volumes & Values

The trading volume has recorded 93.811 million securities worth EGP 284.346 million, exchanged through 13.834 thousand transactions during Thursday midday.

Also during the midday session, 167 listed securities have been traded in; 81 fell, 61 advanced; while 25 keeping their previous levels.

Investors’ Activities

Egyptians and Arabs were net sellers bolstering EGX’s midday gains as they acquired 91.15% and 2.71% respectively of the total markets, with a net equity of EGP 9.421 million and EGP 538.503 thousand respectively, excluding the deals.

Meanwhile, the non-Arab foreigners were net sellers they seized 6.14% of the total market, with a net equity of EGP 9.959 million, excluding the deals.