EGX 30 Surges 1.78% In April On IMF Accord Optimism

In April which witnessed resumption of talks between Egypt authorities and the International Monetary Fund over long-awaited US$ 4.8 billion, the Egyptian Exchange has managed to post gains of EGP 633 million as the capital market has reached around EGP 355.5 billion by the end of April, compared to the end of last March of EGP 354.9 billion, representing a growth of 1.78%.

The Egyptian Exchange’s indices reported remarkable increase during April.

Through April – the main index, EGX30 climbed by 1.92% to end at the level of 5.196 points. For the mid- and small-cap index, the EGX70 surged by 1.66% to close at 449 points; while, the price index EGX100 pushed up by 1.14% to conclude at the level of 746 points.

In April, EGX’s traded volume reached around 1.844 million securities worth around EGP 8.9 billion, exchanged through 325 thousand transactions. Noting that, through March the traded volume had reached 2.343 million securities worth EGP 27.5 billion, exchanged through 341 thousand transactions.

Elsewhere, the traded volume for the EGX of SMEs – NILEX through April has amounted to 4.2 million securities worth EGP 9.9 billion, exchanged through 2.167 transactions.

For EGX’s Over-The-Counter – OTC trading, the shares had seized 72.55% out of the total traded value; while traded value of the bonds represented 27.45% in April.

Investors Activities:

Local investors led the market activity through April, seizing 75.18% of the total market; while non-Arab foreigners and Arabs seized 19.14% and 5.68%, respectively of the total market, after excluding the deals.

Excluding the deals, the non-Arab foreigners were net sellers in April , with a net equity of  EGP 377.86 million; while Arabs were net buyers, with a net equity of EGP 7.23 million.

It is worth noting that the non-Arab foreigners were net sellers since the beginning of 2013, with a net equity of EGP 371.45 million; while Arabs were net sellers, with a net equity of EGP 491.49 million, after excluding the deals.

Also in April, institutions had seized 55.89% of the EGX’s transactions; while individuals had 44.11%.

Institutions were net sellers, with a net equity of EGP 108.00 million through April, after excluding the deals.