Egypt Stocks open Higher on Local and Arab Buyers

Egypt’s stock market shares kicked off trading on Tuesday higher registering early gains of 1.86 billion Egyptian pounds (US$260.2 million) backed by local and Arab investors’ buying appetite.

In return, the country’s stock index, EGX30 hiked by 0.50% to 9154.51 points at early trade.

The rest of the Egyptian Exchange’s indices were also wavering on green positive notes during the opening session of Tuesday.

Indices

EGX20 grew by 0.89% to 10177.73 p.

The mid- and small-cap index, the EGX70 edged up by 0.89% to 578.47 p.  Price index EGX100 advanced by 0.58% to 1131.67 p.

Furthermore, market capitalization reached EGP 503.374 billion, according to data compiled by Amwal Al Ghad English at 11:07 a.m. Cairo time (09:07 GMT).

Trading Volumes & Values

The trading volume has reached 40.634 million securities worth EGP 132.649 million, exchanged through 5543 transactions during Tuesday opening.

Also during the opening session, 114 listed securities have been traded in; 38 fell, 43 advanced; while 33 keeping their previous levels.

Investors’ Activities

Local and Arab investors were net buyers at early trade capturing 80.47% and 8.45% respectively of the total markets, with a net equity of EGP 3.048 million and EGP 3.324 million, excluding the deals.

On the other hand, non-Arab foreign investors were net sellers seizing 11.08% of the total market, with a net equity of EGP 6.373 million, excluding the deals.