Egypt Shares Open higher, EGX30 Nears 8430

Egypt’s stocks opened higher on Wednesday with gains worth 949 million, halting a 3-day losing streak backed by foreign investors’ buying appetite. In addition, the main stock index, EGX30 started trading higher to near 8430 points.

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

Indices

The Benchmark EGX30 hiked by 0.39% to 8429.43 p, and EGX20 went up by 0.52% to 10200.66 p.

In addition, the mid- and small-cap index, the EGX70 rose by 0.04% to 592.02 p.  Price index EGX100 also advanced by 0.07% to 1042.56 p.

Furthermore, market capitalization reached EGP 483.184 billion, according to data compiled by Amwal Al Ghad English at 11:02 a.m. Cairo time (08:02 GMT as Egypt turned to Daylight saving time).

Trading Volumes & Values

The trading volume has recorded 15.731 million securities worth EGP 38.020 million, exchanged through 1582 transactions during Wednesday opening.

Also during the opening session, 67 listed securities have been traded in; 9 fell, 28 advanced; while 29 keeping their previous levels.

Investors’ Activities

The non-Arab foreign investors and Arab investors were net buyers at early trade on Wednesday capturing 9.83% and 4.9% respectively of the total markets, with a net equity of EGP 1.827 million and EGP 883.744 thousand respectively, excluding the deals.

On the other hand, Egyptian investors were net sellers seizing 85.27% of the total market, with a net equity of EGP 2.711 million, excluding the deals.