Egypt Shares Open Higher on Local and Arab Buying Appetite on Monday

Egyptian stocks have opened higher on Monday posting gains worth EGP 542 million backed by early local and Arab buying appetite. The main index continues its rally early Monday to start trading above 6870 points.

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

The Benchmark EGX30 went up by 0.24% to 6870.33 p; while EGX20 also increased by 0.14% to 7980.26 p.

Additionally, the mid- and small-cap index, the EGX70 rose by 0.07% to 552.27 p.  Price index EGX100 advanced by 0.08% to 937.71 p.

The capital market has opened Monday sessions at EGP 431.986 billion, according to data compiled by Amwal Al Ghad English at 11:08 a.m. Cairo time (09:08 GMT).

Trading Volumes & Values

The trading volume has recorded 38.713 million securities worth EGP 57.447 million, exchanged through 2988 transactions during Monday opening.

Also during the opening session, 96 listed securities have been traded in; 23 fell, 50 advanced; while 23 keeping their previous levels.

Investors’ Activities

Egyptians and Arabs were net buyers seizing 87.94% and 5.35% respectively of the total markets, with a net equity of 1.472 million and 1.955 million respectively, excluding the deals.

On the contrary, the non-Arab foreigners were net sellers acquiring 6.71% of the total market, with a net equity of EGP 3.428 million, excluding the deals.