Egypt Stocks Close 3% Higher Powered by Poll Timetable

Egypt’s stock market has closed higher on Tuesday following the announcement of the timetable for the constitution amendment and setting parliamentary and presidential elections for early 2014. The Egyptian Exchange has closed at gains of EGP 8.8 billion and the benchmark have inched 3.3% higher.

Egypt’s new interim president Judge Adly Mansour issued late Monday a swift timetable for the constitution amendment, setting parliamentary and presidential elections for early 2014.

Amendments to the current constitution would first be made by a panel of judges and law professors, followed by a second committee made up of various segments of the Egyptian population and political parties.

The Egyptian Exchange’s indices were wavering in green notes during the closing session of Tuesday.

Egypt’s benchmark index EGX30 jumped by 3.26% to close at 5290.02 p; while the EGX20, it climbed by 4.36% to end 6076.95 p.

Meanwhile, the mid- and small-cap index, the EGX70 soared by 5.43% to conclude at 423.94 p.  The price index EGX100 also inched up by 4.06% to finish at 728.93 p.

The capital market has closed at EGP 352.119 billion by Tuesday afternoon.

Investors’ Activities

Arabs and the non-Arab foreigners investors remained net sellers seizing 4.92% and 17.8% respectively, of the total markets, with a net equity of EGP 10.496 million and EGP 52.837 million, excluding the deals.

Meanwhile,  Egyptian investors were net buyers seizing 77.28% of the total markets, with a net equity of EGP 63.334 million excluding the deals.

Traded Volumes & Trades

Through the closing session of Tuesday, the trading volume has reached 139.439 million securities. For the traded value, it hit EGP 393.515 million, exchanged through 19.936 thousand transactions.

Also during the closing session, 167 listed securities have been traded in; 6 declined, 142 advanced; while 19 keeping their previous levels.