EGX30 Surges at Open, Hits 8685

Big 5

Egypt’s stocks surged at early trade on Thursday with opening gains worth 2.3 billion Egyptian pounds. Accordingly, the main stock index, EGX30 crossed 8685 points at open powered by local and Arab investors’ buying appetite.

Meanwhile, the Egyptian Exchange (EGX)’s indices were wavering in green notes during the opening session of Thursday.

The Benchmark EGX30 hiked by 0.68% to 8685.23 p, and EGX20 hiked by 0.79% to 10451.05 p.

On the contrary, the mid- and small-cap index, the EGX70 rose by 0.23% to 622.61 p.  Price index EGX100 increased by 0.35% to 1087.6 p.

Furthermore, market capitalization reached EGP 496.833 billion, according to data compiled by Amwal Al Ghad English at 11:13 a.m. Cairo time (08:13 GMT as Egypt turned to Daylight saving time).

Trading Volumes & Values

The trading volume has recorded 47.834 million securities worth EGP 136.104 million, exchanged through 4247 transactions during Thursday opening.

Also during the opening session, 101 listed securities have been traded in; 9 fell, 64 advanced; while 28 keeping their previous levels.

Investors’ Activities

Egyptian and Arab investors were net buyers at opening trade on Thursday capturing 87.71% and 8.3% respectively of the total markets, with a net equity of EGP 2.355 million and EGP 1.049 million respectively, excluding the deals.

On the other hand, the non-Arab foreign investors were net sellers seizing 3.99% of the total market, with a net equity of EGP 3.404 million, excluding the deals.