Egypt Shares Gain EGP3 bln at Open, EGX30 Crosses 8000

Egyptian stocks opened higher on Wednesday with losses worth 3.2 billion Egyptian pounds powered by foreign buying appetite. Accordingly, the main stock index – EGX30 surged to cross 8000 points at early trading.

The Egyptian Exchange indices were wavering on green notes during the opening session of Wednesday.

The Benchmark EGX30 climbed by 1.07% to  8004.22 p, and EGX20 inched up by 1.16% to 9599.68 p.

Meanwhile, the mid- and small-cap index, the EGX70 increased by 0.59% to 597.74 p.  Price index EGX100 hiked by 0.63% to 1048.37 p.

Furthermore, market capitalization reached EGP 474.501 billion, according to data compiled by Amwal Al Ghad English at 11:24 a.m. Cairo time (09: 24 GMT).

Trading Volumes & Values

The trading volume has recorded 44.315 million securities worth EGP 132.359 million, exchanged through 5005 transactions during Wednesday opening.

Also during the opening session, 121 listed securities have been traded in; 17 fell, 75 advanced; while 29 keeping their previous levels.

Investors’ Activities

The non-Arab foreign and Arab investors were net buyers at early trading on Wednesday capturing 5.01% and 13.23% respectively of the total markets, with a net equity of EGP 431.347 thousand and EGP 2.401 million respectively, excluding the deals.

On the other hand, Egyptian investors were net sellers seizing 81.76% of the total market, with a net equity of EGP 2.833 million, excluding the deals.