Egypt stocks hikeTuesday, despite EgyptAir flight fright

Egypt’s stock market surged Tuesday with gains estimated at 3.193 billion Egyptian pounds ($359.5 million) on local buying appetites.

Earlier Tuesday morning the Egyptian airline EgyptAir announced that a flight – Airbus 320- from Alexandria to Cairo has been hijacked and landed in Cyprus with 81 passengers on board.

The market capitalization has recorded 409.039 billion pounds during the closing session of Tuesday.

Indices

Egypt’s benchmark index, EGX30 increased by 0.98 percent to 7567.46 points.

EGX50 EWI index went up by 1.05 percent to 1423.71 points.

EGX20 climbed by 1.44 percent to 8089.91 points.

In addition, the mid- and small-cap index EGX70 rose by percent 0.28 to 370.01 points. The price index, EGX100 hiked  by 0.31 percent 797.4 points.

Turnovers high

On Tuesday, the bourse’s trading volume has hit 514.326 million securities, with turnovers closed at EGP 1.948 billion, exchanged through 39,894 thousand transactions.

Also during the closing session, 179 listed securities have been traded in; 50 declined, 92 advanced; while 33 kept their previous levels.

Investors’ Activities

Arab and foreign investors were net sellers on Tuesday getting 6.74 percent and 6.21 percent  respectively of the total markets, with a net equity of EGP 45.625 million and EGP  16.426  million, respectively, excluding the deals.

On the contrary, the local investors were net buyers seizing 87.05% of the total market, with a net equity of EGP 16.426 million, excluding the deals.