Egypt Stocks edge up on Tuesday amid Putin’s Cairo Visit

Egypt’s stock market shares went up on Tuesday registering gains worth 942 million Egyptian pounds (US$123.4 million) backed by the Russian President Vladimir Putin’s visit to Cairo to boost bilateral ties.

Consequently, the country’s main stock index, EGX30 rebounded to cross 9900 points on Tuesday.

Putin’s two-day trip is intended to strengthen ties between the two countries.

Putin and Egyptian President Abdel Fattah al-Sisi will pay special attention to ramping up trade and economic ties between the two countries. The two leaders are also expected to discuss Iraq, Syria and Libya and the Israeli-Palestinian conflict.

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

Indices:

The main stock index, EGX30 rose by 0.16 per cent to 9900.65 points. EGX20 increased by 0.28 per cent to 11028.58 points.

Meanwhile, the mid- and small-cap index EGX70 edged higher by 0.27% to 601.24 points. The price index, EGX100 grew by 0.10% to 1179.71 points.

Turnovers still below EGP1 billion
Throughout the closing session of Tuesday, the trading volume has reached 163.440 million securities, with turnovers climbed to EGP 822.782 million, exchanged through 23.730 thousand transactions.                       
Also during the closing session, 184 listed securities have been traded in; 92 declined, 59 advanced; while 30 kept their previous levels.
Furthermore, the market capitalization recorded EGP 533.880 billion on Tuesday.

Investors’ Activities

Local investors were net buyers attaining on Tuesday 83.33% of the total market, with a net equity of EGP 9.105 million, excluding the deals.

On the other hand, the non-Arab foreign and Arab investors were net sellers seizing 9.57% and 7.1% respectively of the total markets, with a net equity of EGP 1.834 million and EGP 7.271 million, respectively, excluding the deals.