EGX 30 Rallies, Ends Above 6160 Pts Backed By Local, Arab Buyers

During Wednesday’s closing, the Egyptian Exchange (EGX) has posted gains of EGP 758 million backed by local and Arab buyers.

The capital market has reached to EGP 358.282 billion during Wednesday’s closing session.

The EGX indices closed in green notes except for the EGX 20 which solely falls.

Egypt’s benchmark index EGX30 inched up by 0.67% to close at 5163.66 p; while EGX20 fell by 0.30% to end at 5958.82 p.

Meanwhile, the mid- and small-cap index, the EGX70 rose by 0.10% to conclude at 448.3 pts.  Price index EGX100 went up by 0.33% to finish at 746.94p.

During Wednesday’s closing, the trading volume hit 75.344 million securities, higher than Tuesday’s 75.218 million securities, representing an increase of 126 securities. For the traded value, it reached EGP 294.571 million, exchanged 14.223 thousand transactions.

This was after trading in 168 listed securities; 60 declined, 61 advanced; while 47 keeping their previous levels.

Driven by the news of imposing tax on the NSGB’s takeover deal, the non-Arab foreigners remained net sellers seizing 37.6% of the total markets, with a net equity of EGP 24.451 million excluding the deals.

Meanwhile, Egyptian and Arab investors were net buyers backing the EGX gains the have seized 57.75% and 4.65% respectively, of the total markets, with a net equity of EGP 22.713 million and EGP 1.737 million excluding the deals.