Egypt’s stocks rose at early trade on Tuesday posting gains worth one billion Egyptian pounds powered by the launch of the first economic summit by the local stock exchange on the IPOs. In return, the main stock index, EGX30 surged at opening crossing 8335 points.
The Egyptian Exchange indices were wavering on green notes during the opening trading session on Tuesday.
The Benchmark EGX30 inched up by 0.38% to 8336.88 p, and EGX20 hiked by 0.48% to 9952.15 p.
Meanwhile, the mid- and small-cap index, the EGX70 rose by 0.08% to 610.65 p. Price index EGX100 increased by 0.11% to 1067.26 p.
Furthermore, market capitalization reached EGP 483.902 billion, according to data compiled by Amwal Al Ghad English at 11:36 a.m. Cairo time (09:36 GMT).
Trading Volumes & Values
The trading volume has recorded 73.993 million securities worth EGP 211.847 million, exchanged through 5535 transactions during Tuesday opening.
Also during the opening session, 118 listed securities have been traded in; 19 fell, 67 advanced; while 32 keeping their previous levels.
Arab investors were net buyers capturing 6.22% of the total market, with a net equity of EGP 8.945 million, excluding the deals.
On the other hand, Egyptian and the non-Arab foreign investors remained net sellers seizing 70.44% and 23.35% respectively of the total markets, with a net equity of EGP 6.395 million and EGP 2.550 million respectively, excluding the deals.