EGX Gains EGP 8 Bln, Main Index Closes Above 4100 Pts Ahead of Results

As Egyptian presidential runoff results will be announced within the coming minutes according to the Higher Presidential Election Commission (HPEC),  the Egyptian Exchange (EGX) maintained optimism by posting gains during Sunday Closing amounted to EGP 7.58 billion the capital market has reached EGP 310.594 billion.

The results of Egypt’s presidential run-off have been delayed by the election authorities, further raising tension across the polarized country.

The presidential runoff results had been due to be announced on Thursday June 21st, but the HPEC said it needed more time to look into complaints presented by the candidates; Mohamed Morsi and Ahmed Shafiq.

The main index, EGX30 jumped 3.34% to close at 4166.32 p.  EGX20 climbed 4.18% to end at 4745.14 p.

Meanwhile, the mid- and small-cap index, the EGX70 soared 3.21% to finish at 385.38 p. Price index EGX100 edged up 3.23% to conclude at 653.19 p.

Traded volume reached 75.071 million securities worth EGP 189.771 million, exchanged through 13.828  thousand transactions.

This was after trading in 168 listed securities; 12 declined and 147 advanced while 9 keeping their previous levels.

Egyptians and Arabs were net buyers seizing 93.14% and 2.86% respectively, of the total markets, with a net equity of EGP 26.531 million and EGP 1.318 thousand excluding the deals.

On the other hand, the non-Arab Foreigners were net sellers seizing 4.01% of the total markets, with a net equity of EGP 27.849 million excluding the deals