Egypt Shares Start 2014’s First Session Higher, Gain EGP1.8 bn at Midday

A new year has arrived, Egyptian stocks post gains worth EGP 1.8 billion by the midday session of Thursday powered by Arab buying appetite through the first session of 2014. The main gauge is approaching 6830 points Thursday noon.

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

The Benchmark EGX30 inched up by 0.65% to 6827.15 p; while EGX20 also rose by 0.62% to 7948.75 p.

Additionally, the mid- and small-cap index, the EGX70 hiked by 0.83% to 546.69 p.  Price index EGX100 advanced by 0.72% to 929.8 p.

The capital market has hit on Thursday midday EGP 428.610 billion, according to data compiled by Amwal Al Ghad English at 12:19 p.m. Cairo time (10:19 GMT).

Trading Volumes & Values

The trading volume has recorded 90.624 million securities worth EGP 139.288 million, exchanged through 7609 transactions during Thursday midday.

Also during the opening session, 97 listed securities have been traded in; 15 fell, 51 advanced; while 31 keeping their previous levels.

Investors’ Activities

Arabs were net buyers acquiring 7.98% of the total market, with a net equity of EGP 7.473 million, excluding the deals.

On the contrary, Egyptians and the non-Arab foreigners were net sellers seizing 90.24% and 1.78% respectively of the total markets, with a net equity of EGP 4.283 million and 3.190 million respectively, excluding the deals.