Egypt stocks 0.3% higher ahead of Eid break

Egypt’s stock market rose on Thursday as the country prepares to celebrate the Muslim holiday of Eid next week when trading closes.

Cairo main index, EGX 30 closed 0.30 percent higher, to 13,417 points.

The Egyptian Exchange (EGX) announced that trading will be closed from June 25 to June 27 on the occasion of Eid Al Fitr.

Trading will resume on 28 June.

Other indices; EGX50 EWI index also rose 0.05 percent, to 2,071 points.

Mid- and small-cap index EGX70 added 0.27 percent, to 637.3 points. Price index, EGX100 grew 0.53 percent, to 1,497 points.

Market Cap

Market capitalisation posted gains worth 2.3 billion Egyptian pounds (around $126.7 million), to record 691.638 billion pounds during the closing session of Thursday.

Turnovers

The bourse’s trading volume reached 186 million securities, with turnovers, closing at 683.7 million pounds, exchanged through 17,345 transactions.

Also during the closing session, 178 listed securities have been traded in, 59 declined, 77 advanced; while 42 kept their previous levels.

Investors’ Activities

Local and Arab investors were net buyers controlling 73.26 percent and 7.2 percent respectively of the total markets, with a net equity of 4.134 million pounds and 10.079 million pounds, respectively, excluding the deals.

On the contrary, non-Arab foreign investors were net sellers capturing 19.54 percent of the total market, with a net equity of 14.213 million pounds, excluding the deals.