EGX Gains EGP 2.89 Bln Amid Saudi Ambassdor’s Returns

On Sunday’s closing session, the EGX posted gains of EGP 2.89 billion as the capital market amounted to EGP 353.191 billion as Saudi Arabia’s ambassador to Egypt returned to Cairo on Saturday after tensions briefly spurred the kingdom to pull its envoys and shutter its missions. Ambassador Ahmad Kattan is expected to resume his duties on Sunday.

The main index, EGX30 inched up 0.90% to close at 4973 p. EGX20 climbed 1.54 % to close at 5827.63 p.

Meanwhile, the mid- and small-cap index, the EGX70 jumped  2.35% to close at 433.59 p. Price index EGX100 rose 1.61% to close at 784.56 p.

Traded volume reached million 80.381 million securities worth EGP 237.484 million, exchanged through 18.287 thousand transactions.

This was after trading in 170 listed securities; 21 declined and 134 advanced while 15 keeping their previous levels.

Egyptians were net buyers seizing 96.37% of the total markets, with a net equity of EGP 20.672 million, excluding the deals.

On the other hand, non-Arab Foreigners and Arabs were net sellers seizing 2.03% and 1.59% respectively, with a net equity of EGP 19.805  million and EGP 867.072 thousand, excluding the deals.

Saudi Arabia called back Kattan and closed its embassy and consulates last Sunday after raucous protests in Cairo over the imprisonment of Ahmed Mohammed el-Gezawi, an Egyptian human rights lawyer.

Throngs of Egyptians had gathered in front of the Saudi Embassy, calling for the release of el-Gezawi.