Egypt Bourse hikes most in 2 months

Egypt’s stocks went higher Wednesday posting gains worth 6.9 billion Egyptian pounds (US$881.3 billion) backed by on Arab and non-Arab investors’ buying appetite.

The market capitalisation has registered 481.745 billion pounds during the closing session of Wednesday.

Indices

Egypt’s benchmark index, EGX30 soared 2.55 percent to 7882.6 points.

EGX20 boosted by 2.75 percent to 7882.4 points.

In addition, the mid- and small-cap index EGX70 jumped 2 percent to 427.89 points. The price index, EGX100 hiked 1.70 percent to 889.49 points.

Turnovers remain low

On Wednesday, the bourse’s trading volume has hit 197.157 million securities, with turnovers closed at EGP 515.998 million, exchanged through 19,485 thousand transactions.

Also during the closing session, 159 listed securities have been traded in; 13 declined, 113 advanced; while 29 kept their previous levels.

Investors’ Activities

Arab and non-Arab investors were net buyers on Wednesday getting 14.37% and 13.41% respectively of the total markets, with a net equity of EGP 17.32521.168 million and EGP 11.222 million, respectively, excluding the deals.

On the contrary, the Egyptian investors were net sellers seizing 72.22% of the total market, with a net equity of EGP 32.391 million, excluding the deals.