Egypt Shares Rally at Midday Powered by Local, Arab Buying Appetite

Egyptian stocks have moved higher during the midday session of Thursday attaining gains of EGP 1.6 billion powered by local and Arab investors’ buying appetite. The main gauge went on rallying to hit 6775 points Thursday noon.

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

The Benchmark EGX30 inched up by 0.77% to 6775.63 p; while EGX20 also grew by 0.99% to 7872.14 p.

Additionally, the mid- and small-cap index, the EGX70 rose by 0.24% to 536.85 p.  Price index EGX100 increased by 0.47% to 913.1 p.

The capital market has hit on Thursday EGP 424.021 billion, according to data compiled by Amwal Al Ghad English at 12:57 p.m. Cairo time (10:57 GMT).

Trading Volumes & Values

The trading volume has recorded 130.300 million securities worth EGP 317.427 million, exchanged through 14.268  transactions during Thursday midday.

Also during the midday session, 169 listed securities have been traded in; 57 fell, 83 advanced; while 29 keeping their previous levels.

Investors’ Activities

Egyptians and Arabs were net buyers seizing 82.48% and 6.28% respectively of the total markets, with a net equity of EGP 18.049 million and EGP 5.707 million respectively, excluding the deals.

On the contrary, the non-Arab foreigners were net sellers acquiring 11.24% of the total market, with a net equity of EGP 23.757 million, excluding the deals.