Egypt’s stock market ended this week higher with gains totalling 1.2 billion pounds. Powered by non-Arab foreign buying appetite, the country’s main stock index – EGX30 climbed to close on Thursday near 8460 points, highest since September 2008.
However, the Egyptian Exchange (EGX) indices were wavering in mixed notes on Thursday afternoon.
Egypt’s benchmark index EGX30 closed 2.08 per cent higher to 8459.38 pts; while EGX20 finished 1.78 per cent up to 10180.56 pts.
On the contrary, the mid- and small-cap index, the EGX70 sank by 1.55 per cent to end at 633.63 pts. The price index EGX100 also tumbled by 0.89 per cent to conclude at 1104.44 pts.
Furthermore, the market capitalization recorded EGP 490.449 billion on Thursday.
Turnovers above One Billion and Half Pounds
Through the closing session of Thursday, the trading volume has reached 362.803 million securities, with turnovers worth EGP 1.632 billion, exchanged through 47.119 thousand transactions.
Also during the closing session, 183 listed securities have been traded in; 89 declined, 80 advanced; while 14 keeping their previous levels.
The non-Arab foreign investors were net buyers on Thursday capturing 18.59% of the total market, with a net equity of EGP 98.760 million, excluding the deals.
On the other hand, Egyptian and Arab investors were net sellers seizing 72.51% and 8.9% respectively of the total markets, with a net equity of EGP 20.367 million and EGP 78.392 million respectively, excluding the deals.
At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price decline on Thursday by 0.53 percent to EGP 13.15.
Market bellwether Commercial International Bank S.A.E. (COMI.CA) pushed up by 3.63 percent to EGP 38.50.
In the real estate sector, Palm Hills Development Company (PHDC.CA) surged by 1.49 percent to trade at EGP 4.09, Talaat Moustafa Group Holding (TMGH.CA) also inched up by 2.40 percent to trade at EGP 8.55, while Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) grew by 0.50 percent to close at EGP 28.27.