Egypt stocks gain $62.6mn after days of losing

Egyptian stock market concluded Wednesday with gains estimated at 3.556 billion Egyptian pounds (US$ 62.6 million) despite Arab and foreign buying appetite.

The market capitalisation hit 404.168 billion pounds during the closing session of Wednesday.

Indices

Egypt’s benchmark index, EGX30 boosted 1.22 percent to 7420.61  points.

The EGX50 EWI index increased by 1.38 percent to 1425.67 points.

EGX20 rose by 1.31  percent to 7790.34 points.

In addition, the mid- and small-cap index EGX70 I went up by 0.95 percent to 368.55  points. The price index, EGX100 hiked by 0.97 percent to 785.49  points.

Turnovers down

On Wednesday, the bourse’s trading volume has recorded 179.312 million securities, with turnovers closed at 620.245 billion pounds, exchanged through 19, 63 thousand transactions.

Also during the closing session, 174 listed securities have been traded in; 33 declined, 98 advanced; while 40 kept their previous levels.

Investors’ Activities

Arab and foreign investors were net buyers on Wednesday getting 6.26 % and 9.31 % respectively of the total markets, with a net equity of 51.394 million pounds and 13.357 million pounds, respectively, excluding the deals.

On the contrary, local investors were net sellers capturing 84.43 % of the total market, with a net equity of 64.752 million pounds, excluding the deals.