Egypt Bourse Gain EGP1.8 billion at Open, Yet EGX 30 Tumbles

Egypt’s bourse opened higher on Monday with gains amounting to 1.8 billion Egyptian pounds, powered by foreign buying appetite. However, local net sellers dragged Egypt’s main index – EGX 30 to fall below 7545 points during early trading.

The Egyptian Exchange’s indices were wavering in mixed notes during the opening session.

Indices

The Benchmark EGX30 tumbled by 0.42% to 7544.58 p; while EGX20 dropped by 0.43% to 8920.72 p.

Additionally, the mid- and small-cap index, the EGX70 inched up by 0.50% to 650.75 p.  Price index EGX100 rose by 0.29% to 1104.11 p.

Furthermore, market capitalization reached EGP 472.290 billion, according to data compiled by Amwal Al Ghad English at 11:09 a.m. Cairo time (09:09 GMT).

Turnovers & Trading Volumes

The trading volume has recorded 21.485 million securities, with turnovers reached EGP 73.300 million, exchanged through 3751 transactions during Monday opening.

Also during the opening session, 124 listed securities have been traded in; 66 fell, 35 advanced; while 23 keeping their previous levels.

Investors’ Activities

Arab and the non-Arab foreigner investors were net buyers on Monday seizing 0.56% and 1.39% respectively of the total markets, with a net equity of EGP 332.842 thousand and EGP 3.307 million respectively, excluding the deals.

On the contrary, Egyptian investors were net sellers acquiring 98.04% of the total market, with a net equity of EGP 3.640 million, excluding the deals.