Egypt Stocks Gain EGP8.2bn in Week, Shrug off Sinai Attacks
In a week, Egypt’s stock Exchange (EGX) registered gains amounting to 8.2 billion Egyptian pounds. In addition, the country’s main stock index, EGX30 jumped by 3.6% in a week, with an increase of 318.63 points, ending Thursday’s transactions at 9115.63 points, versus 8797 points at the end of a week earlier.
The main gauge index registered its highest point on Thursday closing at 9115.63 points, whereas its lowest point recorded on Monday at 8648.99 points.
In addition, the mid- and small-cap index, the EGX70 climbed in a week by 2.9% closing at 609 points during Thursday’s session, compared to 592 points at the end of a week earlier. The price index, EGX100 also surged by 2.9% concluding by 1109 points during Thursday’s session, against 1077 points at the end of a week earlier.
Furthermore, the market capitalization closed at EGP 504.234 billion last Thursday, compared to EGP 496.046 billion at the end of a week earlier.
Turnovers: Higher
Through the week, the trading volume hit around 1.2 billion securities, compared to 880.5 million securities at the end of a week earlier. For the traded value, it reached EGP 4.8 billion against EGP 4.2 billion a week earlier.
Investors’ Activity:
Local investors led the market activity all through the week with 78.73%, followed by foreign and Arab investors with 7.43% and 13.84%, respectively, after excluding the deals.
Foreign investors were the most active buyers during the week earning the value of EGP 239.12 million, after excluding the deals.
Arab investors were also to buy by value of EGP 96.33 million, after excluding the deals.
Moreover, institutions seized 46.43% of total trading through the week; while individuals attained 53.57%. Institutions were the most active buyers during the week earning the value of EGP 259.88 million, after excluding the deals.
Market Remarks
- · Egypt Bourse Participates in 54th WFE’s General Assembly
Egypt’s stock Exchange (EGX) is taking part in the 54th session of the General Assembly of the World Federation of Exchanges, which will take place in the South Korean capital, Seoul on October 27-29.
In this respect, EGX’s chairman Mohamed Omran headed this morning to Seoul to participate in the event, seeking to present the Egyptian bourse’s experience as one of the most important emerging markets.
On the sidelines of WFE’s General Assembly, the Egyptian top official will point out to the EGX’s efforts in the field of governance and institutional structuring for the capital markets.
WFE is a top-notch international organization in the field of capital markets; it organizes its annual general assembly in the presence of the world’s largest stock exchanges chairmen together with a number of the largest financial and investment institutions in the world.
EGX has been the first Arab exchange that gets the membership of WFE, which holds in its membership the markets that apply the international standards of the capital markets.
