Egypt stocks mostly rebound on Wednesday as local, Arab buy

Egypt’s stock market edged mostly higher Wednesday with gains totalling 1.5 million Egyptian pounds (US$191.6 million) on local and Arab buying appetite.

The market capitalisation has recorded 414.924 billion pounds during the closing session of Wednesday.

Indices

Egypt’s benchmark index, EGX30 surged 1.10 percent to 6391.07 points.

EGX50 EWI index went up 0.40 percent to 1097.38 points.

EGX20 grew 1.20 percent to 6278.92 points.

In addition, the mid- and small-cap index EGX70 rose 0.31 percent to 351.17 points. Yet, the price index, EGX100 dropped 0.49 to 745.16 points.

Turnovers modest

On Wednesday, the bourse’s trading volume hit 178.846 million securities, with turnovers closed at 551.174 million pounds, exchanged through 13,229 thousand transactions.

Also during the closing session,158 listed securities have been traded in; 28 declined, 80 advanced; while 47 kept their previous levels.

Investors’ Activities

Local and Arab investors were net buyers Wednesday capturing  74.73 percent and 5.98 percent respectively of the total markets, with a net equity of 10.137 million pounds and 33.514 million pounds, respectively, excluding the deals.

On the contrary, the foreign investors were net sellers getting 19.29 percent of the total market, with a net equity of 43.625 million pounds, excluding the deals.