Egypt Shares Open Higher on Wednesday, Gain EGP595 mln

Egyptian stocks opened higher on Wednesday posting gains worth EGP 595 million backed by local net buyers. The benchmark returned to rally crossing 6260 points on early trading.

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

The Benchmark EGX30 inched up by 0.30% to 6262.89 p; while EGX20 also rose by 0.23% to 7291.71 p.

Additionally, the mid- and small-cap index, the EGX70 increased by 0.20% to 520.5 p.  Price index EGX100 hiked by 0.20% to 873.24 p.

The capital market has opened at EGP 405.810 billion on Wednesday, according to data compiled by Amwal Al Ghad English at 11:06 a.m. Cairo time (09:06 GMT).

Trading Volumes & Values

The trading volume has recorded 4.637 million securities worth EGP 12.121 million, exchanged through 889 transactions during Wednesday opening.

Also during the opening session, 79 listed securities have been traded in; 9 fell, 36 advanced; while 34 keeping their previous levels.

Investors’ Activities

Egyptians were net buyers acquiring 85.58% of the total market, with a net equity of EGP 569.600 thousand, excluding the deals.

Meanwhile, Arabs and the non-Arab foreigners were net buyers seizing 7.2% and 7.22% respectively of the total markets, with a net equity of EGP 111.096 thousand and EGP 458.504 thousand respectively, excluding the deals.