Egypt Shares Halt Two-day Low, Open Higher on Tuesday

Egyptian stocks have opened higher on Tuesday posting gains of EGP 2.7 billion backed by local and Arab net buyers. The benchmark index rallied to start on Tuesday above 6390 points.

The Egyptian Exchange’s indices were wavering on green notes during Tuesday opening.

The Benchmark EGX30 climbed by 1.12% to 6394.54 p; while EGX20 surged by 1.28% to 7449.69 p.

Meanwhile, the mid- and small-cap index, the EGX70 rose by 0.78% to 539.94 p.  Price index EGX100 increased by 0.83% to 898.18 p.

The capital market has reached EGP 414.465 billion on Tuesday, according to data compiled by Amwal Al Ghad English at 11:11 a.m. Cairo time (09:11 GMT).

Trading Volumes & Values

The trading volume has recorded 23.097 million securities worth EGP 59.918 million, exchanged through 3277 transactions during Tuesday opening.

Also during the opening session, 126 listed securities have been traded in; 4 fell, 101 advanced; while 21 keeping their previous levels.

Investors’ Activities

Egyptians and Arabs were net buyers bolstering EGX’s early gains since they acquired 84.65% and 3.89% respectively of the total markets, with a net equity of EGP 3.304 million and EGP 946.204 thousand respectively, excluding the deals.

Meanwhile, the non-Arab foreigners were net sellers seizing 11.46% of the total market, with a net equity of EGP 4.251 million thousand, excluding the deals.