Egypt Shares Close Higher on Wednesday amid Local Buying Appetite

Egypt’s bourse rallied on Wednesday, closing with gains of 3.7 billion Egyptian pounds powered by local buying appetite. Accordingly, Egypt’s main bourse index also ended higher to cross 7340 points.

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

Indices

Egypt’s benchmark index EGX30 ended 0.77 per cent higher to 7343.53 pts; while EGX20 finished 0.88 per cent up to 8771.75 pts.     
on the contrary, the mid- and small-cap index, the EGX70 climbed by 1.20% to close at 602.81 pts. The price index EGX100 pushed up by 1.11 per cent to conclude at 1019.72 pts.  
Furthermore, the market capitalization recorded EGP 454.570 billion on Wednesday.

Turnovers 
Through the closing session of Wednesday, the trading volume has reached 228.148 million securities, with turnovers worth EGP 718.352 million, exchanged through 34.174 thousand transactions.           
Also during the closing session, 175 listed securities have been traded in; 20 declined, 143 advanced; while 12 keeping their previous levels.

Investors’ Activities

Egyptians were net buyers capturing 85.12% of the total market, with a net equity of EGP 22.246 million, excluding the deals.

Meanwhile, the non-Arab foreigners and Arabs were net sellers seizing 9.77% and 5.1% respectively of the total markets, with a net equity of EGP 14.473 million and 7.773 million respectively, excluding the deals.

Companies’ Activities

At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price decrease by 0.27 percent to EGP 11.20.

Market bellwether Commercial International Bank S.A.E. (COMI.CA) inched up 1.01 percent to EGP 33.15.

In the real estate sector, Palm Hills Development Company increased by 1.66 percent to trade at EGP 3.06, Talaat Moustafa Group Holding (TMGH.CA) surged percent to trade at EGP 3.06, and Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) rose 0.52 percent to close at EGP 23.12.