Egypt: Stocks Gain EGP3.5 bln at Midday on Local, Arab Buyers

Egypt’s stock market rallied by the midday session of Sunday posting gains of EGP 3.5 billion backed by local and Arab buyers.

Accordingly, the benchmark climbed to further above 5400 pts.

The Egyptian Exchange’s indices were trading in green notes on Sunday noon.

Benchmark EGX30 surged by 1.21% to 5411.55 p; while EGX20 edged up by 1.58% to 6297.61 p.

On the other hand, the mid- and small-cap index, the EGX70 climbed by 1.49% to 431.56 p.  Price index EGX100 advanced 1.23% to 741.61 p.

The capital market has reached EGP 359.723 billion during the midday session of Sunday, according to data compiled by Amwal Al Ghad English at 12:18 p.m. Cairo time (10:18 GMT).

Trading Volumes & Values

The trading volume has recorded 54.307 million securities worth EGP 136.527 million, exchanged through 8043 thousand transactions during Sunday midday.

Investors’ Activities

Local and Arab buying transactions have backed EGX’s midday gains as they remained net buyers seizing 83.76% and 8.5% respectively, of the total markets, with a net equity of EGP 3.465 million and EGP 3.882 million, excluding the deals.

Meanwhile,  the non-Arab foreigners were net buyers during midday seizing 7.74% of the total markets, with a net equity of EGP 7.348 million excluding the deals.