As the new prime minister designate is forming his new Cabinet, Egyptian shares ended this week higher with gains totalling 8.8 billion pounds. Accordingly, the country’s main stock index – EGX30 surged on Thursday to cross 8125 points backed by foreign buying appetite.
Additionally, the Egyptian Exchange (EGX) indices were back to green zone on Thursday afternoon.
Egypt’s benchmark index EGX30 ended 1.61 per cent lower to 8127.44 pts; while EGX20 finished 1.92 per cent up to 9765.16 pts.
Meanwhile, the mid- and small-cap index, the EGX70 pushed up by 1.91 per cent to close at 651.21 pts. The price index EGX100 climbed 1.82 per cent to conclude at 1119.09 pts.
Furthermore, the market capitalization recorded EGP 491.847 billion on Thursday.
Turnovers above One Billion Pounds
Through the closing session of Thursday, the trading volume has reached 327.957 million securities, with turnovers worth EGP 1.056 billion, exchanged through 39.324 thousand transactions.
Also during the closing session, 187 listed securities have been traded in; 36 declined, 136 advanced; while 15 keeping their previous levels.
Foreign investors were net buyers on Thursday capturing 13.27% of the total market, with a net equity of EGP 28.851 million, excluding the deals.
On the other hand, Egyptian and Arab investors were net sellers seizing 79.49% and 7.24% respectively of the total markets, with a net equity of EGP 22.072 million and 6.779 million respectively, excluding the deals.
At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price surge by 1.68 percent to EGP 12.70.
Market bellwether Commercial International Bank S.A.E. (COMI.CA) went up by 0.60 percent to EGP 36.60.
In the real estate sector, Palm Hills Development Company (PHDC.CA) jumped by 2.08 percent to trade at EGP 3.44, Talaat Moustafa Group Holding (TMGH.CA) inched up by 2.29 percent to trade at EGP 8.04, and Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) increased by 0.44 percent to close at EGP 25.14.