Egypt Shares Gain EGP1.6 bln at Open, EGX30 Crosses 8350

Egypt’s stocks opened higher on Wednesday posting gains worth 1.6 billion Egyptian pounds powered by foreign buying appetite. In addition, the main stock index, EGX30 went on its rally to start trading above 8350 points.

Meanwhile, the EGX indices were wavering in green notes during the opening session of Wednesday.

The Benchmark EGX30 inched up by 0.55% to 8353.08 p, and EGX20 hiked by 0.66% to 10008.16 p.

Meanwhile, the mid- and small-cap index, the EGX70 rose by 0.27% to 613.56 p. Price index EGX100 increased by 0.30% to 1066.33 p.

Furthermore, market capitalization reached EGP 482.567 billion, according to data compiled by Amwal Al Ghad English at 11:15 a.m. Cairo time (09:15 GMT).

Trading Volumes & Values

The trading volume has recorded 41.768 million securities worth EGP 93.355 million, exchanged through 3809 transactions during Wednesday opening.

Also during the opening session, 91 listed securities have been traded in; 4 fell, 60 advanced; while 27 keeping their previous levels.

Investors’ Activities

The non-Arab foreign and Arab investors were net buyers capturing at early trade on Wednesday 13.18% and 10.96% respectively of the total markets, with a net equity of EGP 221.076 million and EGP 179.407 million respectively, excluding the deals.

On the other hand, Egyptian investors were net sellers seizing 75.86% of the total market, with a net equity of EGP 400.483 million, excluding the deals.

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