Egypt’s stock market finished higher on Wednesday with gains totalling 2.1 billion Egyptian pounds backed by non-Arab foreign investors. In return, the main stock index, EGX30 surged crossing 8080 points.
Meanwhile, the Egyptian Exchange (EGX) indices were wavering in green notes during the closing session on Wednesday.
Egypt’s benchmark index EGX30 closed 0.67 per cent higher to 8080.48 pts; while EGX20 finished 1.02 per cent up to 9699.25 pts.
On the contrary, the mid- and small-cap index, the EGX70 went up by 0.47 per cent to end at 600.93 pts. The price index EGX100 increased by 0.44 per cent to conclude at 1054.29 pts.
Furthermore, the market capitalization recorded EGP 475.964 billion on Wednesday.
Turnovers below EGP1 bln
Through the closing session of Wednesday, the trading volume has reached 229.574 million securities, with turnovers worth EGP 804.959 million, exchanged through 31.990 thousand transactions.
Also during the closing session, 180 listed securities have been traded in; 65 declined, 90 advanced; while 25 keeping their previous levels.
The non-Arab foreign investors were net buyers capturing on Wednesday 5.98% of the total market, with a net equity of EGP 27.496 million, excluding the deals.
On the other hand, Egyptian and Arab investors were net sellers seizing 85.11% and 8.91% respectively of the total markets, with a net equity of EGP 15.555 million and EGP 11.940 million respectively, excluding the deals.
At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price increase on Wednesday by 2.25 percent to EGP 12.74.
Market bellwether Commercial International Bank S.A.E. (COMI.CA) advanced by 0.05 percent to EGP 37.40.
In the real estate sector, Palm Hills Development Company (PHDC.CA) hiked by 0.26 percent to trade at EGP 3.82 , Talaat Moustafa Group Holding (TMGH.CA) pushed up by 2.38 percent to trade at EGP 8.60, in addition the Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) also surged by 1.49 percent to close at EGP 26.50.