Egypt Stocks Gain EGP3.4 billion at Open, EGX30 Surges

Egypt’s stocks kicked off trading higher on Tuesday with early gains worth 3.4 billion Egyptian pounds as Arab and Foreign investors returned to buying appetite. In return, the country’s main stock index, EGX30 returned to green above 9548 points.

The Egyptian Exchange (EGX)’s indices were wavering on green notes during the opening session of Tuesday.

Indices

The Benchmark EGX30 climbed by 1.18% to 9548.25 p. In addition, EGX20 surged by 1.47% to 11055.72 p.

The mid- and small-cap index, the EGX70 also grew by 0.15% to 619.26 p.  Price index EGX100 also increased by 0.39% to 1133.68 p.

Furthermore, market capitalization reached EGP512.122 billion, according to data compiled by Amwal Al Ghad English at 10:57 a.m. Cairo time (08:57 GMT).

Trading Volumes & Values

The trading volume has reached 38.275 million securities worth EGP 102.303 million, exchanged through 2.8 thousand transactions during Tuesday opening.

Also during the opening session, 88 listed securities have been traded in; 8 fell, 64 advanced; while 16 keeping their previous levels.

Investors’ Activities

Arab and Foreign investors were net buyers at early trade attaining 5.55% and 4.2% respectively of the total markets, with a net equity of EGP 693.037 million and EGP 3.958 million, excluding the deals.

On the other hand, the Egyptian investors were net sellers seizing 90.25% of the total market, with a net equity of EGP 4.7 million, excluding the deals.