Egypt Stocks Gain EGP2.4 billion on Tuesday amid Foreign Buying Appetite

Egypt’s stocks closed higher Tuesday with gains totalling 2.4 billion Egyptian pounds triggered by foreign investors’ buying appetite. In return, the country’s main stock index, EGX30 surged above 8560 points.

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

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 1.08 per cent higher to 8563.06 pts; while EGX20 finished 0.92 per cent up to 10271.39 pts.     
In addition, the mid- and small-cap index, the EGX70 grew by 0.54 per cent to finish at 616.24 pts. The price index EGX100 increased by 0.61 per cent to conclude at 1088.75 pts.  
Furthermore, the market capitalization recorded EGP 491.289 billion on Tuesday.

Turnovers Remain below EGP 1 billion
Through the closing session of Tuesday, the trading volume has reached 109.005 million securities, with turnovers worth EGP 426.228 million, exchanged through 15.940 transactions.               
Also during the closing session, 165 listed securities have been traded in; 35 declined, 99 advanced; while 30 kept their previous levels.

Investors’ Activities

The non-Arab foreign and Arab investors were net buyers capturing on Tuesday 12.15% and 9.99% respectively of the total markets, with a net equity of EGP 42.455 million and EGP 30.712 million respectively, excluding the deals.

On the contrary, Local were net sellers seizing 77.86% of the total market, with a net equity of EGP 73.168 million, excluding the deals.