Egypt Stocks Gain EGP341million at Open on Foreign Buying Appetite

Egypt’s stocks opened higher on Wednesday posting gains at value of 341 million Egyptian pounds triggered by foreign investors’ buying appetite. Accordingly, the country’s main stock index, EGX30 climbed at early trade to hover around 9769 points level.

Indices

The Benchmark EGX30 rose by 0.1% to 976951 p, and EGX20 went up by 0.21% to 11545.92 p.

In addition, the mid- and small-cap index, the EGX70 tumbled by 0.16% to 624.83 p.  Price index EGX100 increased by 0.02% to 1147.2 p.

Furthermore, market capitalization reached EGP 526.438 billion, according to data compiled by Amwal Al Ghad English at 11:05 a.m. Cairo time (09:08 GMT).

Trading Volumes & Values

The trading volume has reached 7.4 million securities worth EGP 19.056 million, exchanged through 774transactions during Wednesday opening.

Also during the opening session, 62 listed securities have been traded in; 18 fell, 16 advanced; while 28 keeping their previous levels.

Investors’ Activities

foreign investors were net buyers at early trade capturing 7.87% of the total markets, with a net equity of EGP2.4 million, excluding the deals.

On the other hand, Arab and Egyptian investors were net sellers at early trade seizing 85.14% , 6.99% respectively of the total market, with a net equity of EGP2.2 million, excluding the deals.