EGX30 Nears 7770 at Close as Shares Bounce Back

Egypt’s stock market rebounded to end higher on Wednesday with gains totalling 2.4 billion Egyptian pounds. In return, the main stock index – EGX30 surged to close near 7770 points amid foreign buying appetite.

Meanwhile, the Egyptian Exchange (EGX) indices were wavering again in green notes on Wednesday afternoon.


Egypt’s benchmark index EGX30 closed 0.83 per cent higher to 7768.11 pts; while EGX20 finished 1.07 per cent up to 9234.73 pts.     
On the contrary, the mid- and small-cap index, the EGX70 climbed by 1.31 per cent to end at 588.63 pts. The price index EGX100 inched up by 1.24 per cent to conclude at 1031.63 pts.  
Furthermore, the market capitalization recorded EGP 463.311 billion on Wednesday.

Turnovers below one Billion Pounds
Through the closing session of Wednesday, the trading volume has reached 221.309 million securities, with turnovers worth EGP 635.646 million, exchanged through 29.242 thousand transactions.              
Also during the closing session, 176 listed securities have been traded in; 23 declined, 129 advanced; while 24 keeping their previous levels.

Investors’ Activities

The non-Arab foreign and Arab investors were net buyers capturing 10.69% and 4.5% respectively of the total markets, with a net equity of EGP 5.919 million and EGP 236.886 thousand respectively, excluding the deals.

On the other hand, Egyptian investors were net sellers seizing 84.8% of the total market, with a net equity of EGP 6.156 million, excluding the deals.

Companies’ Activities

At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price increase on Wednesday by 2.25 percent to EGP 12.26.

Market bellwether Commercial International Bank S.A.E. (COMI.CA) hiked by 0.85 percent to EGP 36.90.

In the real estate sector, Palm Hills Development Company (PHDC.CA) pushed up by 2.86 percent to trade at EGP 3.60, Talaat Moustafa Group Holding (TMGH.CA) jumped by 3.17 percent to trade at EGP 7.82, in addition the Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) grew by 1.31 percent to close at EGP 24.81.