EGX Gains EGP 3.7 Bln, Indices Flourish; Midday

The Egyptian Exchange (EGX) has started this week posting midday gains of EGP 3.7 billion during Sunday’s session as the capital market has amounted to EGP 364.008 billion, according to data compiled by Amwal Al Ghad at 12:34 p.m. Cairo time (10:34 GMT).

The EGX indices were in green during midday session.

The main index, EGX30 climbed by 1.80% to 5256.03 p. EGX20 pushed up by 1.47% to 6041.49 p.

Meanwhile, the mid- and small-cap index, the EGX70 soared by 2.28% to 473.92 p.  Price index EGX100 surged by 1.81% to 787.45 p.

This was after trading in 142 listed securities; 10 declined, 109 advanced; while 23 keeping their previous levels.

The non-Arab foreigners and Arabs’ midday buying deals have backed EGX’s rise as they were net buyers seizing  6.58% and 3.99% respectively, of the total markets, with a net equity of EGP 5.526 million and EGP 423.250 thousand excluding the deals.

On the other hand, Egyptians were net sellers seizing 89.43% of the total markets, with a net equity of EGP 5.949 million excluding the deals.

Egyptians vote Saturday on a new constitution supported by the ruling Islamists but bitterly contested by a secular-leaning opposition that failed to scupper the referendum with mass protests.

Polls open at 8:00 am (0600 GMT) in Cairo, Alexandria and eight other provinces and are scheduled to close at 7:00 pm in the first round. The rest of the country votes on December 22.