Egypt Stocks End Week with EGP5bn Gains, EGX30 Nears 8745

Egypt’s stocks ended this week higher attaining gains at value of 5.2 billion Egyptian pounds bolstered by foreign buying appetite. The country’s main stock index, EGX30 went on its rally to close the week approaching the level of 8745 points.

Egyptian Exchange (EGX) announced that Eid al-Fitr (Feast of Breaking the Fast) vacation will start on Monday July 28 until Wednesday July 30.

The trading sessions will be resumed as of Thursday, July 31.

Meanwhile, the Egyptian Exchange’s indices were wavering in green notes during closing session of Thursday.

EGX is operating with shortened trading hours during the Islamic fasting month of Ramadan since the exchange would open from 10:00 to 13:30 Cairo time.

Indices

Egypt’s benchmark index EGX30 ended 2.12 per cent higher to 8744.39 pts; while EGX20 finished 1.82 per cent up to 10457.83 pts.     
In addition, the mid- and small-cap index, the EGX70 rose by 0.56 per cent to finish at 619.72 pts. The price index EGX100 advanced by 0.63 per cent to conclude at 1095.57 pts.  
Furthermore, the market capitalization recorded EGP 496.515 billion on Thursday.

Turnovers Remain below EGP 1 billion
Through the closing session of Thursday, the trading volume has reached 157.267 million securities, with turnovers worth EGP 628.204 million, exchanged through 21.155 transactions.               
Also during the closing session, 176 listed securities have been traded in; 29 declined, 125 advanced; while 20 kept their previous levels.

Investors’ Activities

The non-Arab foreign and Arab investors were net buyers capturing on Thursday 12.94% and 10.86% respectively of the total markets, with a net equity of EGP 101.827 million and EGP 23.421 million respectively, excluding the deals.

On the contrary, local were net sellers seizing 76.19% of the total market, with a net equity of EGP 125.279 million, excluding the deals.