Egypt Shares Jump at Open, Gain EGP11 billion

Egypt’s stocks jumped at early trade on Thursday posting gains amounting to 11.16 billion Egyptian pounds powered by non-Arab investors’ buying appetite. In return, the main stock index, EGX30 further rallied exceeding 8435 points.

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

Indices

The Benchmark EGX30 soared by 3.94% to 8435.62 p, and EGX20 jumped by 4.29% to 10184.48 p.

In addition, the mid- and small-cap index, the EGX70 climbed by 2.13% to 589.77 p.  Price index EGX100 pushed up by 2.54% to 1035.05 p.

Furthermore, market capitalization reached EGP 481.623 billion, according to data compiled by Amwal Al Ghad English at 11:32 a.m. Cairo time (08:32 GMT as Egypt turned to Daylight saving time).

Trading Volumes & Values

The trading volume has recorded 76.944 million securities worth EGP 276.289 million, exchanged through 7979 transactions during Thursday opening.

Also during the opening session, 140 listed securities have been traded in; 3 fell, 116 advanced; while 21 keeping their previous levels.

Investors’ Activities

The non-Arab foreign investors were net buyers at early trade on Thursday capturing 8.81% of the total market, with a net equity of EGP 13.392 million, excluding the deals.

On the other hand, Egyptian and Arab investors were net sellers seizing 83.68% and 7.51% respectively of the total markets, with a net equity of EGP 5.278 million and EGP 8.114 million respectively, excluding the deals.