Egypt Main Index Rises to 3-year High, Hails Constitution Vote Move

Egyptian stocks closed higher on Tuesday as the country started today voting on post-Morsi military-backed constitutional referendum. The stocks attained gains totaled EGP 2.6 billion powered by non-Arab foreign buying appetite. Accordingly, the benchmark index closed above 7195 points, highest since session of January 11, 2011.

The Egyptian Exchange (EGX) indices were wavering in green notes on Tuesday afternoon.

Egypt’s benchmark index EGX30 ended 1.11 per cent higher to 7196.04 pts, and EGX20 also finished 1.15 per cent up to 8458.16 pts.     
Meanwhile, the mid- and small-cap index, the EGX70 increased by 0.76% to close at 569.08 pts. The price index EGX100 grew by 0.68 per cent to conclude at 965.63 pts.  
The capital market has closed at EGP 443.287 billion on Tuesday afternoon.

Growing Turnovers
Through the closing session of Tuesday, the trading volume has reached 318.970 million securities. For the traded value, it hit EGP 1.023 billion, exchanged through 42.337 thousand transactions.           
Also during the closing session, 179 listed securities have been traded in; 78 declined, 87 advanced; while 14 keeping their previous levels.

Investors’ Activities

The non-Arab foreigners were net buyers acquiring 13.24% of the total market, with a net equity of EGP 37.815 million, excluding the deals.

On the contrary, Egyptians and Arabs were net sellers seizing 78.54% and 8.22% respectively of the total markets, with a net equity of EGP 35.864 million and 1.951 million respectively, excluding the deals.

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