Egypt’s stocks opened higher on Wednesday posting gains of 785 million Egyptian pounds backed by local buying appetite. In return, the main stock index, EGX30 surged at open to approach 8390 points.
The Egyptian Exchange indices were wavering on green notes during the opening trading session on Wednesday.
The Benchmark EGX30 went up by 0.23% to 8389.55 p, and EGX20 rose by 0.16% to 10004.44 p.
Meanwhile, the mid- and small-cap index, the EGX70 increased by 0.23% to 616.89 p. Price index EGX100 advanced by 0.13% to 1076.59 p.
Furthermore, market capitalization reached EGP 486.022 billion, according to data compiled by Amwal Al Ghad English at 11:21 a.m. Cairo time (09:21 GMT).
Trading Volumes & Values
The trading volume has recorded 46.662 million securities worth EGP 329.777 million, exchanged through 4570 transactions during Wednesday opening.
Also during the opening session, 103 listed securities have been traded in; 15 fell, 51 advanced; while 37 keeping their previous levels.
Local investors were net buyers capturing 29.56% of the total market, with a net equity of EGP 19.044 million, excluding the deals.
On the other hand, Arab and the non-Arab foreign investors remained net sellers seizing 1.61% and 68.82% respectively of the total markets, with a net equity of EGP 6.232 million and EGP 12.812 million respectively, excluding the deals.