Egypt Bourse Ends Higher, Keeps on Shrugging off Morsi’s Trial

Shrugging off the beginning of the deposed president Mohamed Morsi’s trial,  Egyptian shares ended higher on Monday posting gains totaled EGP 1.01 billion. The benchmark index crossed 5220 points backed by local net buyers.

The trial of the Egyptian deposed president started early Monday.The judge presiding over the trial of deposed president Mohamed Morsi and 14 co-defendants has been adjourned to 8 January, 2014 to allow prosecution and defence to examine documents.

Egyptian Exchange’s management has announced next Tuesday, November 5th an official vacation on occasion of Islamic New Year. The Egyptian bourse will be resumed activities on Wednesday, November 6th.

The Egyptian Exchange indices were wavering on green notes on Monday afternoon.

Egypt’s benchmark index EGX30 ended 0.57 per cent higher to 6222.4 pts, and the EGX20 also finished 0.59 per cent up to 7275.16 pts.   
Meanwhile, the mid- and small-cap index, the EGX70 inched up by 0.43 per cent to conclude at 523.6 pts. The price index EGX100 advanced by 0.10 per cent to close at 875.55 pts. 
The capital market has closed at EGP 404.357 billion on Monday.

Turnovers
Through the closing session of Monday, the trading volume has 140.953 million securities. For the traded value, it hit EGP 482.934 million, exchanged through 27.486 thousand transactions.     

Also during the closing session, 179 listed securities have been traded in; 25 declined, 148 advanced; while 6 keeping their previous levels.

Investors’ Activity

Egyptians were net buyers propelling EGX’s closing gains for they seized 84.24% of the total market, with a net equity of EGP 22.354 million, excluding the deals.

On the other hand, Arabs and the non-Arab foreigners were net sellers acquiring 4.59% and 11.17% respectively, of the total market, with net equities of EGP 3.952 million and EGP 18.402 million, excluding the deals.