Egypt: Local Investors Drag EGX 30 to Cross 7500 at Open

Egypt’s bourse opened higher on Monday with gains amounting to 1.2 billion Egyptian pounds, bolstered by local buying appetite. In return, Egypt’s main index – EGX 30 crossed 7500 points during early trading on Monday.

The Egyptian Exchange’s indices were wavering in green notes, except for the mid- and small-cap index, the EGX70 which solely falls during the opening session of Monday.

Indices

The Benchmark EGX30 surged by 0.58% to 7504.4 p; EGX20 also increased by 0.28 % to 8923.6 p.

Additionally, the mid- and small-cap index, the EGX70 tumbled by 0.27% to 611.8 p.  Price index EGX100 rose by 0.37% to 1052.88 p.

Furthermore, market capitalization registered EGP 461.434 billion, according to data compiled by Amwal Al Ghad English at 11:27 a.m. Cairo time (09:27 GMT).

Turnovers & Trading Volumes

The trading volume has recorded 44.346 million securities, with turnovers reached EGP 132.466 million, exchanged through 5902 transactions during Sunday opening.

Also during the opening session, 129 listed securities have been traded in; 43 fell, 56 advanced; while 30 keeping their previous levels.

Investors’ Activities

Egyptian investors were net buyers on Monday acquiring 89.02% of the total market, with a net equity of EGP 3.688 million, excluding the deals.

On the contrary, Arabs and the non-Arab foreigners were net sellers seizing 6.33% and 4.65% respectively of the total markets, with a net equity of 1.183 million and 2.504 million respectively, excluding the deals.