Egypt Stocks Rally at Open, EGX30 Hits 8621

Egypt’s stocks gained 534 million Egyptian pounds during Wednesday’s opening session backed by non-Arab foreign investors’ ongoing buying appetite. In addition, the country’s main stock index, EGX30 kept on its rally to cross 8620 points at early trade.

Meanwhile, the EGX indices were wavering in green notes during the opening session of Wednesday.

EGX is operating with shortened trading hours during the Islamic fasting month of Ramadan.

The exchange is opened from 10:00 to 13:30 Cairo time during Ramadan.

Indices

The Benchmark EGX30 went up by 0.20% to 8621.57 p, and EGX20 rose by 0.31% to 10400.44 p.

In addition, the mid- and small-cap index, the EGX70 increased by 0.15% to 613.99 p.  Price index EGX100 also advanced by 0.12% to 1088.12 p.

Furthermore, market capitalization reached EGP 493.241 billion, according to data compiled by Amwal Al Ghad English at 11:20 a.m. Cairo time (09:20 GMT).

Trading Volumes & Values

The trading volume has recorded 28.067 million securities worth EGP 323.524 million, exchanged through 4303 transactions during Wednesday opening.

Also during the opening session, 120 listed securities have been traded in; 50 fell, 39 advanced; while 31 keeping their previous levels.

Investors’ Activities

The non-Arab foreign investors remained net buyers at early trade on Wednesday capturing 4.67% of the total market, with a net equity of EGP 2.753 million, excluding the deals.

On the other hand, Egyptian investors and Arab investors were net sellers seizing 93.78% and 1.55% respectively of the total markets, with a net equity of EGP 1.028 million and EGP 1.725 million, excluding the deals.