Egypt Shares End Week Higher Triggered by Fruitful GCC-Egypt Forum
Egyptian stocks have ended the week higher bolstered by the economic forum which is being held in Cairo on December 4th and 5th to allure Gulf investments to the cash-strapped North African country. The shares posted gains totaled around EGP 2 billion. The benchmark index closed above 6330 points on Thursday.
The second day of the Gulf-Egyptian Investment Forum 2013 has launched today under the auspices of Egypt’s Prime Minister Hazem El-Beblawi.
The Egyptian Exchange indices were wavering in green notes on Thursday afternoon.
Egypt’s benchmark index EGX30 ended 0.81 per cent higher to 6332.13 pts, and EGX20 also finished 0.59 per cent up to 7367.23 pts.
Meanwhile, the mid- and small-cap index, the EGX70 rose by 0.59 per cent to conclude at 525.37 pts. The price index EGX100 increased by 0.64 per cent to close at 881.6 pts.
The capital market has closed the week at EGP 408.101 billion.
Turnovers
Through the closing session of Thursday, the trading volume has reached 88.877 million securities. For the traded value, it hit EGP 295.369 million, exchanged through 16.526 thousand transactions.
Also during the closing session, 177 listed securities have been traded in; 52 declined, 101 advanced; while 24 keeping their previous levels.
Investors’ Activities
Powered by the Gulf-Egyptian Investment Forum that kicked off on Thursday, Egyptians and Arabs were net buyers acquiring 79.69% and 6.36% respectively of the total markets, with a net equity of EGP 8.934 million and EGP 14.014 million respectively, excluding the deals.
Meanwhile, the non-Arab foreigners were net sellers seizing 13.95% of the total market, with a net equity of EGP 22.949 million, excluding the deals.
