Egypt Shares Gain EGP8 bln, EGX 30 Surges 1.7% at Midday

Shares in Egypt posted on Wednesday midday gains of EGP 8.2 billion as the first session in deposed president Mohamed Morsi’s trial had passed without major clashes. The midday gains were backed by the non-Arab net buyers. Benchmark index climbed to cross 6330 points.

The trial of ousted president Mohamed Morsi had started on Monday at the Police Academy on the outskirts of Cairo, but the judge decided to adjourned the trial until January 8th; the ousted Egyptian president sent to Borg Al-Arab prison.

The Egyptian bourse has resumed its trading activities on Wednesday after one-day halt, celebrating the beginning of a new Islamic year.

The Egyptian Exchange’s indices were flourishing in green notes during Wednesday midday.

The Benchmark EGX30 climbed by 1.76% to 6332.15 p; while EGX20 surged by 2% to 7420.33 p.

Meanwhile, the mid- and small-cap index, the EGX70 soared by 2.58% to 537.1 p.  Price index EGX100 hiked by 2.11% to 894.03 p.

The capital market has reached EGP 412.555 billion on Wednesday, according to data compiled by Amwal Al Ghad English at 12:34 p.m. Cairo time (10:34 GMT).

Trading Volumes & Values

The trading volume has recorded 129.761 million securities worth EGP 435.767 million, exchanged through 17.522 thousand transactions during Wednesday midday.

Also during the midday session, 171 listed securities have been traded in; 20 fell, 134 advanced; while 17 keeping their previous levels.

Investors’ Activities

The non-Arab foreigners were net buyers bolstering EGX’s midday gains as they seized 18.27% of the total market, with a net equity of EGP 18.380 million, excluding the deals.

Meanwhile, Egyptians and Arabs were net sellers acquiring 69.06% and 12.67% respectively of the total markets, with a net equity of EGP 7.881 million and EGP 10.499 million respectively, excluding the deals.