Shares Open Higher, Overlooking Concerns on Mohamed Mahmoud Clashes Anniversary

Despite possible tensions to be erupted during the commemoration of Mohamed Mahmoud clashes anniversary, Egyptian stocks have opened higher on Tuesday attaining gains of EGP 1.5 billion backed by Arab net buyers. The benchmark index hit 6364 points on opening session.

Egypt’s revolutionary groups fear the memory of Mohamed Mahmoud Street could be marred by clashes once again, following calls by the Muslim Brotherhood and military supporters to demonstrate on the same day

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

The Benchmark EGX30 went up by 0.37% to 6364.84 p; while EGX20 rose by 0.47% to 7426.87 p.

Meanwhile, the mid- and small-cap index, the EGX70 increased by 0.27% to 538.79 p.  Price index EGX100 hiked by 0.22% to 894.9 p.

The capital market has reached EGP 413.556 billion on Tuesday, according to data compiled by Amwal Al Ghad English at 11:15 a.m. Cairo time (09:15 GMT).

Trading Volumes & Values

The trading volume has recorded 48.393 million securities worth EGP 67.559 million, exchanged through 3611 transactions during Tuesday opening.

Also during the opening session, 120 listed securities have been traded in; 30 fell, 61 advanced; while 29 keeping their previous levels.

Investors’ Activities

Arabs were net buyers bolstering EGX’s opening gains as they acquired 10.01% of the total market, with a net equity of EGP 8.308 million, excluding the deals.

Meanwhile, Egyptians and the non-Arab foreigners were net sellers as they seized 87.69% and 2.3% respectively of the total markets, with a net equity of EGP 7.454 million and EGP 853.223 thousand respectively, excluding the deals.