Egypt’s stock market closed higher on Tuesday earning 5.2 billion pounds powered by local and Arab buying appetite. In return, the main stock index, EGX30 jumped on Tuesday exceeding 8500 points.
Meanwhile, the Egyptian Exchange (EGX) indices were wavering in green notes on Tuesday afternoon.
Egypt’s benchmark index EGX30 closed 1.14 per cent higher to 8501.63 pts; while EGX20 finished 1.27 per cent up to 10282.34 pts.
In addition, the mid- and small-cap index, the EGX70 surged by 0.85 per cent to end at 641.51 pts. The price index EGX100 hiked by 0.92 per cent to conclude at 1119.43 pts.
Furthermore, the market capitalization recorded EGP 497.136 billion on Tuesday.
Turnovers above One Billion Pounds
Through the closing session of Tuesday, the trading volume has reached 256.489 million securities, with turnovers worth EGP 1.073 billion, exchanged through 39.309 thousand transactions.
Also during the closing session, 185 listed securities have been traded in; 48 declined, 121 advanced; while 16 keeping their previous levels.
Egyptian and Arab investors were net buyers capturing on Tuesday 83.11% and 8.63% respectively of the total markets, with a net equity of EGP 22.670 million and EGP 7.426 million respectively, excluding the deals.
On the other hand, the non-Arab foreign investors were net sellers seizing 8.26% of the total market, with a net equity of EGP 30.097 million, excluding the deals.
At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price surge on Tuesday by 1.46 percent to EGP 13.20.
Market bellwether Commercial International Bank S.A.E. (COMI.CA) inched up by 1.76 percent to EGP 38.25.
In the real estate sector, Palm Hills Development Company (PHDC.CA) climbed by 1.45 percent to trade at EGP 4.19, Talaat Moustafa Group Holding (TMGH.CA) went down by 0.59 percent to trade at EGP 8.45, while Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) rose by 0.68 percent to close at EGP 29.56.